Second Life Game Defined as One of the Pioneers of Metaverse Has Been Taxed: Taxes Will Be Paid on Virtual Land Sales

Second Life Game Defined as One of the Pioneers of Metaverse Has Been Taxed: Taxes Will Be Paid on Virtual Land Sales

The virtual reality game second life, which is popular all over the world, defined as the pioneer of metaverse, has announced that taxes will now be applied on purchases that will take place in the game. This statement showed that similar situations can occur on other metaverse platforms.

New news about the metaverse, which is defined as the ‘future of the internet’, continues to come every day. Millions of dollars are invested in these increasingly popular virtual universes from many people and companies. Assets, such as digital plots, for which astronomical fees are paid, are also among the things invested in the metaverse.

Now, Second Life, one of the games considered to be the pioneer of the metaverse, has made a statement about virtual universes, which is thought to be widespread all over the world in the future. US-based technology giant Linden Lab, the developer of the game, made important statements on the subject of ‘paying taxes in the metaverse’.

‘Sales tax’ coming to Metaverse

First of all, let’s talk about the Second Life game, which is very popular all over the world. This game, which was released in 2003, allows users to navigate through avatars, interact with other people, and do things that are done in normal life digitally in an internet-based virtual world. This game, which promises a ‘second life’ to its players, is described as a very important platform because it is suitable for the purposes and general lines of the metaverse.

The developer of the game, Linden Lab, also made statements that will upset its users this week. Authorities announced that there will now be a ‘sales tax’ in the game, which is popular around the world. According to the statements, users will have to pay taxes on purchases such as virtual land, premium subscriptions made in the game with a new update: “We have done everything we can to protect our players from these taxes; but now we have to accept this situation”

In addition, it was stated in the statements that this decision was taken due to a law that came into force in the United States in 2018 and allows to collect taxes from online purchases. This registered Second Life as the first metaverse platform that brings taxes to its users and showed us that such decisions can be made on other platforms.

As a result, this decision, which we can describe as a turning point; It is possible to say that Roblox, Meta can seriously affect the Horizon Worlds universe and many other metaverse platforms. In addition, the possibility of imposing taxes on many increasingly popular topics such as NFTs and cryptocurrencies is also a topic on the agenda. In short, people will probably soon have to pay taxes on assets purchased from virtual universes, just as they do with things bought in real life.


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