Second Life vs. Play Station virtual world
After watching a fair number of video and reading online reviews of both the product, i prepared a list of similarities, differences and business opportunity in both the media applications.

Second life:
1. User driven community, more freedom to users.
2. Larger audience as it is intended to all ages and not limited to gaming and social networking.
3. Sex and violence sales.
4. Attractive to real-world companies. Some holds their meetings and bought lands as well.
5. Robust economy model. Users can earn money as well.
6. Better replica of real world then virtual world. Almost every activity can be monetized. Example: advertising, gaming, clubbing, real-estate.
7. 15 million accounts but large scale user registration decline seen in recent quarters.
8. Bit tedious and crowded.

Virtual World
1. Less freedom to user.
2. Originally intended for play stations user community but may adapt second life model in future.
3. No sex, no violence. Mainly for Sony and it's trade partners.
4. Main economy model revolves around gaming and advertising.
5. User looking for psychological relief of being oppressed or pursuing something which they can not pursue in real world would not prefer virtual world.
7. Already having a established user base of PS3.
8. More attractive and easy to use.

Business Model:
SL:
1. Better economy model as countless number of ways to make money. Better replica of real world and more freedom to user enables a better economy model.
2. Larger audience. Nudity, sex makes it attractive to many.
VW:
1. Limited view of real world. More inclined to Sony music and advertising business. Sometimes viewed as a side product to support PS3 community.
2. Limited audience.No nudity, no Violence. Less options for customizing.
3. Potential to leverage established user base of 102 million PS3 users.