YrGrid denies allegations that it is refusing redemptions in order to profit from the recent spike in Bitcoin prices. Instead, the problem is caused by their Bitcoin wallet service provider, said the grid, which is a Hong Kong-based commercial gambling-oriented grid with a Bitcoin-based virtual currency. Residents and users haveRead More →

The first meeting of the Hypergrid Chamber of Commerce will be at 11 a.m. Pacific time on Friday, July 21 and several major players in the OpenSim economy have officially joined as members, including Gloebit, Podex, and Kitely. Another early supporter is GamesCredit, which offers cryptocurrency-based in-game payments. The group plans to work on standards forRead More →

Press release: 3rd Rock Grid to transition to Podex 3rd Rock Grid is going through a number of changes as part of a transition to a new ownership model. One of the changes will be to transition away from directly managing their currency, the Geode, otherwise known as the GO$.Read More →

In mid-June, Linden Lab announced that third-party exchanges must stop selling Linden dollars, which will effectively put all or most of these exchanges out of business by August 1. There is an English-language petition with around 300 signatures at SaveTheExchanges.com and a German-language petition at OpenPetition with more than 700 signatures. There is a smallRead More →

Update: Linden Lab has posted an official notice confirming the news. Linden Lab is shutting down third-party currency exchanges, CrossWorlds exchange owner Tony Bastianelli told Hypergrid Business today. According to Bastianelli, he received an email today telling him that his reseller account will be shut down on August 1, and he will noRead More →

DX Exchange, one of the oldest exchanges trading Linden Dollars, has now entered the OpenSim payments space. The exchange is now providing the currency infrastructure for Sunlight Grid, with four other grids in beta testing. Currently, there are two main exchanges providing currency services to OpenSim grids. Virwox operates theRead More →