SAN FRANCISCO, Jan. 13, 2022 /PRNewswire/ -- High
Fidelity announced today that it acquired an interest in Linden
Research, Inc. ("Linden Lab"), the pioneering developer of the
virtual world Second Life. The deal includes a cash investment
and distributed computing patents. Members of High Fidelity's
metaverse team are joining the company, and Philip Rosedale, who is a founder of both
companies, is also rejoining Second Life as a strategic
advisor.
The transaction will help Second Life further scale its
operations and strengthen its commitment to growing an innovative,
inclusive, and diverse metaverse where its inhabitants' ingenuity
drives real-world value for themselves and others.
"No one has come close to building a virtual world like Second
Life," says Second Life founder and High Fidelity co-founder,
Philip Rosedale. "Big Tech
giving away VR headsets and building a metaverse on their
ad-driven, behavior-modification platforms isn't going to create a
magical, single digital utopia for everyone. Second Life has
managed to create both a positive, enriching experience for its
residents — with room for millions more to join — and built a
thriving subscription-based business at the same time. Virtual
worlds don't need to be dystopias."
"Since Philip started Second Life in 1999, its visionary
approach has not only stood the test of time, but positioned it for
the future," says Brad Oberwager,
chairman of Linden Lab. "He and the High Fidelity team have
unmatched experience and I can't wait to capitalize on the vast
opportunity in front of us."
Now in its 19th year of operation, Second Life has had one of
its strongest years ever with a growing user base and booming
economy including an annual GDP of $650
million USD with 345 million transactions of virtual goods,
real estate, and services. Over 2 billion user-generated assets
exist inside Second Life with 8 million unique items sold on its
Marketplace.
ABOUT HIGH FIDELITY
High Fidelity is a real-time
communications company, whose mission is to build technologies that
power more human experiences in today's digital world. The
company's patented spatial audio technology, originally developed
for its VR software platform, adds immersive high-quality, 3D audio
that makes voices sound clearer and powers more natural
conversations, like they're together in a physical space. High
Fidelity was co-founded by Philip
Rosedale, creator of Second Life, Irena Heiberger, and Ryan Karpf. The company is backed by investors
including Blockchain Capital, Breyer Capital, Galaxy Digital
Ventures, GV, HTC, IDG Capital Partners, Kapor Capital, True
Ventures and Vulcan Capital. Learn more at highfidelity.com.
ABOUT SECOND LIFE
Second Life, developed and operated
by Linden Research, Inc., is the groundbreaking virtual world
enjoyed by millions around the globe. First launched in 2003,
Second Life has since gone on to boast nearly two billion user
creations and a vibrant $650 million
(USD) economy. Founded in 1999, Linden Lab creates social platforms
and licensed money services that empower people to create, share,
and benefit from virtual experiences. To learn more visit
secondlife.com.
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SOURCE LINDEN LAB