Welcome To The World Stock Exchange (virtual)

Its not the first virtual online stock exchange but I’m sure it will prove to be one of the most popular. What is it?

The World Stock Exchange (WSE) is owned and operated by Hope Capital Pty. Ltd, an Australian company and existing only in the virtual reality of Second Life® and Linden Lab®. It is a very exciting place to learn about finance and build a virtual portfolio. The WSE is:

“…fictional securities exchange with a fully integrated banking system. The WSE enables virtual companies to raise capital while providing a chance for investors to build their wealth using the fictional Linden Dollar and World Internet Currency that can be sold for real US Dollars. *Conditions Apply

At the WSE, you can read up on the latest company research, talk with analyst about what is hot and perhaps most exciting of all and apply to go public in your own virtual IPO. That’s correct you can ‘List Your Company’ and create your own Initial Public Offering of stock on the WSE.

When you feel like expanding into this new market, as a public company, simply apply for a listing. The information required for a WSE listing is just a bit less than you might be required to submit to the NYSE. All that is needed are some basic details about your company, the directors and a prospectus for ‘investors’. Once your application is submitted, they promise a speedy response.

To have your Second Life company’s stock listed on the World Stock Exchange, fill out the listing application. When you apply, you will need to provide some basic details about your company, explain who your company’s directors are, and create a prospectus. If your company moves forward from there, it goes directly to the IPO stage and the fund raising.  All IPO proceeds are placed into a ‘founder’s’ account and the new stock is then moved onto their official list for a quotation and trade execution.  This is exciting stuff for virtual worlds.  They promise a speedy review of your details once you have submitted the application.

There is also a trading room showing 67 current issues to buy or sell and an education centre chocked full of answers to all your investing questions.

What Kind of Money is Used?

The WSE uses World Internet Currency. World Internet Currency (WIC) is what you need to buy or trade from your WSE trading account. WIC is,

“…a 100% fictional internet currency (”Currency”, “WIC”, “WICS” or (W$) established as a universal currency for both the real and virtual worlds to exchange goods and services. The license to use the World Internet Currency can then be sold to other users in return for US dollars using the WIC Exchange website located at www.wicexchange.com“

WIC$ is directly convertible into Linden$ and that also works in reverse so this is a real money making operation for traders and investors. To purchase Linden Dollars just visit www.secondlife.com or www.slexchange.com. To deposit and withdraw your Linden Dollars visit the in world WSE ATM. Linden dollars can also be converted to USD on select exchanges.

If stock market action excites you but the size of your bank account has kept you on the side lines, click on over to the World Stock Exchange for some fun trading action. Who knows, you may make a virtual killing in the market.

Follow up question for DMW readers. Do you feel that this type of virtual financial market will grow and be wildly successful or is this just a fad?

The WSE carries with it a hefty *Disclaimer.

WORLD STOCK EXCHANGE IS A FICTIONAL SECURITIES EXCHANGE AND IS NOT A REAL SECURITIES EXCHANGE. THE WORLD STOCK EXCHANGE DOES NOT USE REAL CURRENCY AND ONLY OPERATES USING FICTIONAL CURRENCIES CALLED (LINDEN DOLLARS) AND (WORLD INTERNET CURRENCY). USING THE FICTIONAL LINDEN CURRENCY IS SUBJECT TO THE TERMS OF SERVICE BY LINDEN RESEARCH INC LOCATED AT WWW.SECONDLIFE.COM AND USING THE FICTIONAL WORLD INTERNET CURRENCY IS SUBJECT TO THE TERMS OF SERVICE BY WIC EXCHANGE PTY LIMITED LOCATED IN AUSTRALIA.