As the proud creator of Linden Labs’ wildly iconic virtual project Second Life, Philip Rosedale will return to his roots as a strategic advisor to the team, helping them explore Metaverse kingdom. Founded in 2003, Second Life was one of the earliest ventures in the virtual space space, a little-known path at the time with no reliable exposure. The pioneer will join the team as part of the latest collaboration between High Fidelity, the spatial audio company Philip founded in 2013, and the Linden Lab ecosystem.
According to the official announcement, the agreement includes an undisclosed cash investment, important patents, and the addition of some members of the high-fidelity development team. The partnership will also see Philip’s expert participation in driving Linden Lab’s Metaverse expansion plans. Interestingly, the head of High Fidelity is not optimistic about content interoperability in the Metaverse realm, as he sees it as a complete failure. However, he firmly believes that NFTs are likely to be the future of technology in the long run.
Philip Rosedale left his office to serve as linden lab However, in 2008, his expertise in the field brought him huge popularity in the virtual reality cluster. On January 13, 2022, High Fidelity disclosed its investment in Linden Labs via a post. The agreement includes cash investments as well as distributed computing patents, two of which involve community governance in a decentralized infrastructure, the team said. Rosedale said in an interview that the team has several plans on its to-do list, including adding VR and advanced avatar animation via face-tracking cameras to enhance the experience.
— Andrew Oleksiuk (they/them) (@Andrew_Oleksiuk) January 13, 2022
The leader emphasized that content interoperability may not support Metaverse technology in the short term. He added that in the long run, the use of NFTs could be very lucrative and suitable for the growth of the industry. Second Life has its native economy and currency, called the “Lynden Dollar.” Rosedale said 375 million items are traded on the Second Life marketplace interface for nearly $2 each year. He believes that these items are already a form of NFT because they can be easily traded and shared. However, since these items are not recorded on the blockchain, they cannot exist outside the game, a common feature of NFTs. The Second Life platform has an annual GDP of $650 million and sells over 8 million items on its ecosystem.