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Tuesday, September 06, 2005

DOCUMENTING DONATIONS

I'm gathering a compendium and tally of in-world Katrina donations thus far, which already exceed US$3000 (and that's not even counting some 15-plus benefits I've tracked down on the Events listings from yesterday back, or the events to come.) If you've helped run a Katrina benefit in SL, please go here to help me compile the donations list.

Also, a point of advice: if you want the community's L$ donations to have the most US$ value, consider selling them on the open market in smaller chunks over the next few weeks. I say this, based on the experience of the folks who ran the SL Relay for Life last week, to benefit the American Cancer Society. Having raised the Linden Dollar equivalent of US$5,750.00, the organizers sold that currency on Gaming Open Market, only to see the market rate of L$ sharply drop:

As we collected Linden dollars "L$" (the virtual currency of Second Life) we immediately had them sold on the market at market price. Over a very short period of time supply of Lindens outpaced demand and the exchange rates fell. In a sense by releasing that much currency into the market we devalued it from about $3.67 USD per L$1,000.00 to about $3.52 per L$1,000.00. This is a devaluation of 4.08%.

More at SL Future Salon here.

Anyway, the lesson there seems to be, don't drop it all at once. There are now dozens of Residents planning to sell millions of Linden Dollars for US$ to benefit Katrina's victims. Selling too much too quickly will cause the overall donation value to drop, meaning less for the victims. (And much less important, but still of consequence, cause a fairly impactful burp in Second Life's overall economy.)

Posted at 04:23 PM | Permalink

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