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cyph: er… im uncomfortable with the number of !

aileen: hahahha!
!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

cyph: stop cheapening the !

aileen: this is so going on the blog

cyph: grr…
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i know this is the age of IM but please do not substitute punctuation for words

aileen: u prude.

cyph: haha

–

cyph: hey just to remind you, i need to go for reservist training* in june

aileen: !!!!!!!!!!!!!!!!!!
how long!!!!!!!!!!!!!!!!

cyph: 2weeks

aileen: !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

cyph: and btw i need to go for another 2 weeks after that holiday!!

aileen: !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

cyph: marking 1 year of almost continuous work

aileen: …

–
*Singapore’s compulsory military training i.e. no laptops, no internet

–

For the last 2 weeks, we’ve been intensely rehearsing for a RL demo to Singapore’s IDM (Interactive Digital Media) Steering Committee. Present at the demo were 3 ministers including ex-Deputy Prime Minister Dr. Tony Tan, Dr. Vivian Balakrishnan and Mr. Gan Kim Yong, and 10 other top-level government officials.

Thought I’d share some pictures with you guys (click on the picture for larger view.)

• Over 90 digital media projects on show at Temasek Poly
• Virtual credit card moves into the real world
• Singapore To Build a Vibrant Interactive Digital Media Eco-System
• Research in digital media bears fruit
• Reality and fantasy unite in virtual world projects

~ Tyra

First Meta fully supports regulation of financial services activity in the virtual economy. We agree with the statement by Linden Lab that in-world “banks…offering unsustainably high interest rates…are in most cases doomed to collapse – leaving upset ‘depositors’ with nothing to show for their investments.” We believe that the removal of non-credible players from the financial services sector of Second Life’s economy will benefit all of its participants.

First Meta’s approach differs radically from the “banks” as described by Linden Lab. We offer a full range of financial services focusing on credit products, including MetaCard ^TM, backed by a robust real-world system, run by professionals with real-world financial expertise, and focusing on providing customers with transparency and accountability. We are a real-world company, registered in Singapore, one of the financial centers of the world. First Meta’s operations are supported by the Singapore government and we are funded by real-world private investors, not by our customer’s deposits.

We are in discussions with Linden Lab about our MetaSavings^TM accounts. Our MetaSavings^TM deposits are more than 100% funded, which means that no First Meta customer will lose any money as a result of the new policy.

Since our MetaCard^TM does not “offer interest or a rate of return on L$ invested or deposited”, it should not be affected by this new regulation.

As First Meta’s business is not dependent on savings accounts or other investment instruments which are addressed by the new policy, we believe that the new policy will not have any adverse effects on our company. Insofar as the new policy strengthens the virtual economy, we believe this will actually benefit First Meta. As the leading provider of financial services in virtual economies, First Meta will continue to provide a trusted partner for our customers.

Sincerely,
Douglas Abrams (JP Mougin)
Chief Executive Officer
First Meta Pte. Ltd.

To further enhance security, First Meta will be verifying the validity of all real-life credit cards provided at least once a month with effect from November 2007 onwards.

Our partner billing company, Editorial Services, may appear on your real-life credit card transaction log or statement but please note that your credit card will NOT be charged as a result of the verification.

This change is reflected in our new Terms & Conditions available at:

• MetaCard Gold: http://www.firstmeta.com/consumers/tnc
• MetaCard Corporate: http://www.firstmeta.com/merchants/tnc

As a token of appreciation for being our loyal customer, First Meta will credit L$500 to your MetaCard account upon successful validation.

Should you have any questions regarding this new policy, please feel free to contact:

Joy Laperriere
VP, Sales & Customer Service
joy@firstmeta.com

OR
Tyra Fierrens
Chief Operations Officer
aileen@firstmeta.com

We look forward to serving you better.

Thank you.

Sincerely,
Tyra aka Aileen

——–
Tyra Fierrens
aka Aileen Sim

First Meta Pte. Ltd.
Co-founder & COO

Email: aileen@firstmeta.com

firstmeta_tc_merchant_071031.pdf
firstmeta_tc_consumer_071031.pdf

Yes, I know that the $1 billion number is highly skewed by Disney’s purchase of Club Penguin. And yes, it is easy to dismiss virtual worlds as just hype, to say its dot-com all over again. These are perhaps true, but I feel, missing the point. The point is that when there is that much money being invested into an industry, it tends to drive innovation, and consequently, economic growth and opportunities.

Even if the entire industry came crashing down in a couple of years (which I’m hoping will not), it would have made a huge impact in those years. Some people will lose money, yes; but some will make it, and those that do will make A LOT more, and make a huge difference to the lives of others (imagine having to rummage through 10 different book stores to find a rare title instead of just searching for it on amazon). Technology doesn’t generally regress and the advancements made in those years will continue to benefit society long after the bubble bursts.

1 billion in investment is not a lot compared to most other industries. However, if we look at the numbers 2-3 years ago, they were probably much, much less. This increase in investment activity was spurred by the initial increase in market activity and will in turn increase market activity which will further drive more investment activity and so forth. A self-feeding cycle such as this usually results in tremendous and exponential market growth.

Well, I for one, am hoping that this is what will happen, not just because First Meta is dependent on the growth of virtual worlds, but also because I DO believe that virtual worlds will change the world. But, I’ll have to leave this to another discussion or we’ll never get done with this post. :p

What are your thoughts on this?

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]]> http://www.firstmeta.com/blog/2007/10/05/1-billion-invested-in-virtual-world-companies/feed/ http://www.firstmeta.com/blog/2007/09/10/get-neko-ed/ http://www.firstmeta.com/blog/2007/09/10/get-neko-ed/#comments Mon, 10 Sep 2007 09:09:53 +0000 aileen / tyra http://firstmeta.com/blog/2007/09/10/get-neko-ed/ Neko Fair at the First Meta sim on 28 to 30 Sept!

Highlights include:
- merchandise from 50 neko merchants
- special discounts for MetaCard holders
- special limited edition items
- lucky draws and more…

Merchants: contact our Sales Manager, Minky Mousehold to book your slots.

Everybody else: watch this space and group notice for more details.

Get Neko-ed.

*meow* =^.^=

~ aileen / tyra

And of course to my team. For meeting a very, very impossible deadline. Well, we did it! (I work with some pretty awesome people eh? )

Oh yes and some great news too: http://www.firstmeta.com/main/press_releases/redherring100asia.

Thanks again all. My team and I look forward to serving you guys and the whole SL community.

~ Tyra / Aileen