Second Life: What it is and why it matters - a Social Signal white paper (and spoiler)

So you've been reading, seeing and hearing all the hype about Second Life, but you're not really, exactly, completely sure... um... what it is. Or why you should care.

I may be able to help. Catherine and I are releasing Social Signal's white paper Second Life: What it is and why it matters today, free for the downloading . (It's a PDF, about 450 kb in size. It's also a pretty quick read, so it's perfect as a crib sheet before your next chichi cocktail party, where you'll be the one who doesn't have to fake-nod-and-laugh their way through the inevitable Second Life conversation.)

But let me spoil the ending. Here's why Second Life matters:

• It's a big community, and growing quickly: from 100,000 user accounts at the end of 2005 to well over 2 million today. That's a lot of people.
• It's social. You can quickly develop an extensive network of contacts, professional and personal, using everything from Second Life's built-in interest group functions to chance encounters.
• It's a community of open-minded, motivated users. Second Life residents are coming to that world expressly to engage, and its very nature encourages active participation.
• It's instantly ready for e-commerce. Whether you want to raise funds or sell virtual widgets, you can set up shop quickly and easily without getting entangled in merchant accounts or security certificates.
• It's a no-to-low-cost way to collaborate and communicate. Your team members can join each other quickly and easily from around the world, whether for an informal chat or a two-hour meeting.
• It's an ideal space for innovation and experimentation. The informal rules and economic structure of Second Life are still shifting, and the opportunities for social and technological innovation abound.
• It's a uniquely rich experience. Think of the intensity of video, the interactivity of the web, the intimacy of face-to-face contact – combined. Now think of how that level of communication can enrich your engagement with an audience.

(By the way, for a healthy reality check on Second Life's numbers, have a look at Wagner James Au's blog post from December . He's suitably skeptical, but his overall conclusions are still very positive.)