CoffeeandPower from Second Life founder

Philip Rosedale

Philip Rosedale, Second Life founder, launches a new company today called CoffeeandPower.  Testing in San Fransico first, CoffeeandPower lets users exchange virtual currency for real world services.  If it sounds a bit like Zaarly, you are right it does.

RRW lists two main differences between the services:

“First, CoffeeandPower utilizes a virtual currency. Users who sign up and give their cellphone numbers so they can receive SMS updates are automatically seeded with C$20 to get started. C$ is exchanged when goods are bought and sold. More can be purchased (at an exchange rate of US$0.75 for C$1) and users will be able to “cash out” as well. As many of the transactions on the site might be quite small, the virtual currency will help minimize transaction fees for every exchange. In other words, you can earn from C$ and then buy things on from other users without any fees.

Second, CoffeeandPower really emphasizes the community around this marketplace. That’s not a surprise when you think of Philip Rosedale’s work in creating the virtual world Second Life and its online community and economy. Users will be able to chat with each other, both in a public timeline and in private messaging and video chat.”

CoffeeandPower chat interface

Rosedale says. It’s a

“place where people can create new and unique value for each other. So choices like using live public chat to let everyone ‘near’ each other easily talk – that comes right from SL. Also that it needs to be fun, crazy, quirky – again these are the ways things like this get started. Gotta get some basic parts in place and then get out of the way and let people do strange and beautiful things with it. We bet there will be a much larger and different range of things people will do with CoffeeandPower than anyone (including us) can initially imagine – just like Second Life.”

About Daniel Davenport

Daniel is a digital media executive with internet and broadcast experience. Daniel is currently the executive strategy director at THINK Interactive.

No comments yet... Be the first to leave a reply!

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: