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News.com article on Wells Fargo

Eggy Lippmann
Join date: 1 May 2003
Posts: 7,939
09-17-2005 03:26
From: Oz Spade
I actualy rarely hear of Wells Fargo though, we don't have any around here in Ohio as far as I know, and I've probably heard more of them in these past few weeks than I have all my life. :p Not saying they suck or anything, just yeah, not as big as a name to me as had been stipulated.

The 2004 Fortune 500 ranking put Wells Fargo at #49 :)
For comparison, Intel ranks at #53, Disney at #60, PepsiCo at #62, The Coca-Cola Company at #91 and so on and so forth.
Catherine Cotton
Tis Elfin
Join date: 2 Apr 2003
Posts: 3,001
09-17-2005 03:33
From: Beau Perkins

Catherine, just curious, do you have children? Do you really think a boring bank is going to stimulate a childs mind? Keeping the childs interest in a topic, and keeping them involved is the hardest thing about teaching them. So to answer your question, yes, I think a virtual world inviorment is a good place to give children educational lessons on otherwise boring topics for them.

My youngest will be 18 this month. I have 3 grand children ;) Will Wells Fargo island stimulate my kids minds? We do not depend on the internet or any form of the internet to stimulate the minds of our kids or our grand kids. Leap Pad is an excellent tool as well as Imaginarium and Discovery stores IMO are the best sources for providing kids with creative ways to learn. Certainly not the internet. We prefer the hands on approach :)

PS: This island will be accesable from Wells Fargo via an email link I presume. With that in mind it will not affect the main grid, so it wont affect my experience. I still think its a bad investment on the part of Wells Fargo. The money would be better spent investing in any established rl educational program.


In an innovative new marketing effort, Wells Fargo Bank has launched a pilot of an online multiplayer video game built entirely inside another virtual world: Linden Lab's "Second Life."

The pilot project, known as Stagecoach Island, is a digital environment intended to help young people learn financial responsibility. Visitors there can skydive, fly hovercrafts, dance and shop. But woven into the experience, to which Wells Fargo has been inviting groups of people in San Diego and Austin, Texas, is a series of financial messages intended to help them learn something about money management.

Stagecoach Island takes place on several private islands inside Linden Lab's virtual world, "Second Life." But while "Second Life" is open to the public, the Wells Fargo islands are accessible only by those who have received invitations from the bank and, thus, is branded entirely as a Wells Fargo environment. Regular "Second Life" members cannot access Stagecoach Island.

"We're just happy we were able to do something to help young adults with financial education," said Tim Collins, Wells Fargo's senior vice president of experience marketing, "and we were able to do it in a fun, engaging way."

Collins explained that Stagecoach Island players are given $30 in imaginary money with which to buy clothes, pay for rides and the like. The idea, though, is to teach the players to save money--they earn 10 percent per day on "deposits"--and to learn new things about money management through a series of quizzes that, when completed, reward players with $5 of new funds.

In "Second Life," members--who pay nothing for basic access--enter an open-ended virtual world where they can fly, chat with others, drive fanciful vehicles and do many other things. The idea is that anyone with design or 3D-modeling skills can build or design almost anything they can imagine. Indeed, almost all the content in "Second Life" is created by its users.

Linden Lab makes its money by selling "land" in the digital world and subsequently charging landowners monthly fees. The company's CEO, Philip Rosedale, recently told CNET News.com that land sells for about $129 an acre and owners pay an average of $25 a month in maintenance fees.

Observers of virtual worlds like "Second Life" say they can't remember any other examples of a partnership like the one between Wells Fargo and Linden Lab. As such, it appears to be a groundbreaking piece of marketing.

"This might be one of the first times, I hesitate to say (definitively) the first," said Betsy Book, who runs the Web site, Virtual Worlds Review, "where a world has just licensed its technology to have a completely separate world within a world."

Julian Dibbell, who writes frequently about online games and is a co-editor of Terra Nova, the leading Web site about virtual worlds, said he couldn't think of any other cases, though he did say that Coca-Cola had commissioned a digital environment from the makers of the popular online game, "Habbo Hotel."

But Book explained that the Coke effort was self-contained.

Ron Meiners, the community manager for the virtual world, "There" and an expert on online games, recalled that Adobe had hoped its 3D environment "Atmosphere" would become a platform on top of which other companies could build.

Still, neither Book, Dibbell or Meiners could recall any other projects that put a third-party branded game completely inside a virtual world.

For some time, Linden Lab has maintained that "Second Life" is not a game. It prefers to call it a platform, and to Dibbell, the Stagecoach Island pilot validates that argument.

"This is definitely proof of concept of that position," Dibbell said. "It's obviously a platform that people can come in and make of it what they will."

According to David Fleck, Linden Lab's vice president of marketing, all of the design and programming work for Stagecoach Island was done by "Second Life" members.

"The core development was done by developers in 'Second Life,'" Fleck said, "that run successful businesses and have great design skills based on our tool set."

And to Book, for Linden Lab to rely on its members for such an important project is impressive.

"It's very smart, but it's also risky," she said. "They have to trust their members and who they refer this company to. You're talking about big brand names, and you want to make sure they're professionals."

So now there is a definte line between the average player and the professional player in SL, good to know LL.
Eggy Lippmann
Join date: 1 May 2003
Posts: 7,939
09-17-2005 05:59
Catherine, I resent that remark. I have absolutely no special rights or privileges over anyone else in the world. I developed this system using the exact same tools available to every noob.
Linden Lab did not pay me or anyone from Bedazzle. They sold Swivel the necessary simulators and we developed the content for them. As far as I know, Swivel hired Bedazzle as a result of someone having personally seen Chinatown. I remember Foxy telling me once that some crazy guy was there with her saying he wanted to buy 30 sims.
I do not get a better stipend or bonus than you, I did not get any ratings, free tier, or anything.
I'm not a Linden and if this project would get me a job with them I would have probably been notified already, in which case I wouldn't be wasting my time on the forums :P
Csven Concord
Join date: 19 Mar 2005
Posts: 1,015
09-17-2005 06:33
From: Catherine Cotton
So now there is a definte line between the average player and the professional player in SL, good to know LL.

Wasn't there a similar "line" previously? Isn't Anshe and anyone else making significant RL income a "professional player"? So what's new about this?

And what's the significance of the comment you make? I probably share the roads with professional drivers. People in the same store as me are sharing that space with a professional product developer. Is anyone's experience changed? If so, please explain how.
Oz Spade
Join date: 23 Sep 2003
Posts: 2,708
09-17-2005 12:32
From: Eggy Lippmann
The 2004 Fortune 500 ranking put Wells Fargo at #49 :)
For comparison, Intel ranks at #53, Disney at #60, PepsiCo at #62, The Coca-Cola Company at #91 and so on and so forth.

Ehhh, I (and much of the population) don't read Fortune, perhaps I should, but economy and business talk bore me and make me cry. So perhaps in the business world it's well known, but still not a house-hold name really.

I hear more of say CitiBank or US Bank or PNC Bank. :p
"Don't anticipate outcome," the man said. "Await the unfolding of events. Remain in the moment." - Konrad
Julian Fate
80's Pop Star
Join date: 19 Oct 2003
Posts: 1,020
09-17-2005 14:11
From: Eggy Lippmann
For those of you who think I look like an egg, I'm the guy briefly seen dancing to the right of Foxy in the 6th second.

I thought he looked like an egg.
From: Catherine Cotton
given the choice between say a doll from me and a doll make by a graphic artist employed by Toys R Us both being sold in SL who's product would sell first?

Oh no, people who make a superior product will succeed over those who don't! The horror.

Good products will sell, less good products won't, and it's certainly not a foregone conclusion that big companies produce better products.

I may have missed the obvious but, who made the video?
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