Today the Virtual Worlds Expo is underway at the Los Angeles Convention Center and the big business of the virtual space is incredibly real.
In the first half of this year more than 300 million in venture capital financing poured into virtual world startups, with over 250 new virtual worlds popping up, and generating $700 million plus in business.
This event is where startups hype their new virtual environments, investors come to hunt for the next big thing, and perhaps most interesting, Fortune 500 Companies make big announcements in the space. There are the media and technology companies who are trying to bring their brands online with virtual worlds, and then there are the companies who are using virtual worlds to cut costs.
As travel gets increasingly expensive, and as companies become increasingly global, it makes more and more sense to conduct business in this virtual space, whether it's training employees, or holding virtual meetings.