• CNET News.com, Tuesday, February 20, 2007 11:02 AM

The interactive virtual world Second Life recently hosted a competition to see which of its citizens could come up with the best business plan. The winner was Minnesota-based Market Truths, which devised a market research and analysis system to help real-world companies figure out how best to engage with users of the vast virtual world. The contest's judges said they rewarded the company because of the team's experience conducting similar research in the real world, and also because it's business plan had the best prospects for making money.

Finalists' ideas included a full suite of in-world communication and collaboration tools, an in-world music distribution system and a reputation-based search engine. The contest launched in November and sought business plans with real profit potential. This serves the interest of Linden Lab, the game's creator, residents, who often search for supplemental revenue through the game, and of course, marketers looking to reach consumers in the highly engaging virtual world.

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