Today Dragonfish announced that it had signed a deal with virtual world Second Life to provide numerous services including payment processing, anti-fraud, and customer support management. Dragonfish is the business-to-business arm of 888, an online casino, launched earlier this year. Second Life is Dragonfish's first virtual world client, as the company usually deals with online gambling services.
"Dragonfish has a strong track record in unlocking new markets through its unique and secure payment processing solutions, and as Second Life continues to grow internationally, we're pleased to work with them to provide easy and secure payment options for our users outside the US," said Mark Kingdon, CEO of Second Life parent company Linden Lab, in a press statement.
It's not hard to imagine why Second Life may have wanted to contract some professionals to deal with fraud and processing issues. Right now the virtual world plays host to the largest user-generated virtual goods economy in the world, with over $1 billion changing hands in user-to-user transactions since launch. In an average month Second Life generates roughly $35 million in transactions, with 29.6 million user-to-user transactions occurring in October alone.
Second Life has projected its 2009 economy at $450 million in user-to-user transactions. As of Q3, the company is well on its way to meeting or exceeding that milestone.
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