Since the real real estate market is just way too hot right now, Weblo is hoping you will cash in on it virtually. Launched in September of this year, this social networking service allows people to purchase states, provinces, cities, and properties using real dollars. The whole world has been recreated on this service so you can go out and buy it all over again.
Members can build virtual communities, and trade virtual assets with other members and can make real money by flipping virtual real estate. Members can also make money by earning real money through advertising that is attached to their virtual profiles or by selling or auctioning assets for profit. I wonder how much the Playstation 3 went for?
This service is backed by Internet and social networking visionaries including Richard Rosenblatt the co-founder, chairman and CEO of Demand Media and the former Chairman of MySpace.com. According to their marketing "Think of it as Second Life meets My Space, mixed with some Monopoly on steroids." I'm pretty sure steroids are illegal so I don't think that's a great comparison.
Weblo charges a monthly tiered membership fee that discounts access to services on their virtual world. You can find out more about this right here.