PlaySpan's executives say it's a "publisher-sponsored in-game commerce network." Whatever that means. In-game item sales are the hot new trend in massively multiplayer online games. Since these virtual items — say a shiny coat of dragon-scale armor — can be made at virtually no cost to the publisher, they're extraordinarily high in margin. Some developers are, in fact, now offering their games for free, making ends meet by shilling fashion accessories. Since open-market trading of these items on, say, eBay is often deemed "illegal" by the developers, it makes sense to create a sanctioned forum for sales — similar to Sparter, LiveGamer and a bunch of other external marketplaces.

PlaySpan isn't forthcoming about how its commerce network will actually work, but the very idea is plagued by problems. For one, replicating PlaySpan's software tools isn't exactly difficult when looked at in the wider context of game development. Also, PlaySpan encourages users to chat on third-party servers about a wide variety of games — hardly a boost to the developers' goal of winning players' exclusive loyalties. It's like a company that comes in and offers to set up kiosks in a mall's parking lot, diverting shoppers before they even set foot inside. All the big multiplayer games, like World of Warcraft, have their own proprietary commerce systems. In-game traffic is too valuable to hand over to a third party.

Why get into gory details, though, when you have a story about a cute kid who's got a startup while he's still in elementary school? PlaySpan has made garnering publicity look like child's play.

CFO fails to actually answer the question it poses, which is how to regulate Second Life. Sure, there are a few comments from Second Life creator Linden Lab; a spokesman says the company has no desire to police Second Life. An SEC spokesman makes some noncommittal remarks. Before concluding that Second Life regulation is up to Linden Lab, the CFO article briefly touches on the formation of the Second Life Exchange Commission, a supposedly grassroots movement charged by some observers with conflicts of interest.

Whatever the outcome, the kerfluffle over regulation exposes the reality of Second Life: It's all about the money. And once corporations wake up to the reality that there's no real money to be made, these arguments about regulation will be moot. As will Second Life itself.