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Singapore based FirstMeta has launched MetaCard, a credit card for Second Life that is claimed to be the world’s first virtual world credit card.

The MetaCard works in the same way as a normal first life credit card works. Applicants are provided with a credit limit and present the card when purchasing goods at merchants who accept the card.

MetaCard comes in two flavors: Basic and Gold. The Basic card is subject to a avatar check and provides a credit limit of L$5000 ($18.60) per month. A Gold MetaCard offers a credit limit of L$10,000 ($37.20) per month and can only be obtained by providing real world credentials and a real life credit card for automatic payments. Interest is charged at between 0.13% and 0.15% per day, which would we roughly 54% per annum, but compounding. Payments are 2% of the total amount used plus fees outstanding at the end of the month, and users have 21 days to make their monthly payment. MetaCard holders must also spend L$500 ($1.86) per month or face a monthly maintenance fee of L$300 ($1.12).

FirstMeta also offers MetaCard holders a savings account under the MetaSavings brand, offering interest rates of between 0.06%-0.09% daily.

Although the amount of credit offered by FirstMeta is (in real life terms) rather low, it will be interesting to see how services like these develop in online worlds given that in effect they are financial services that would likely be subject to real life laws. Whilst Second Life companies such as the World Stock Exchange clearly state that they are in effect pretend outfits (ie: games), and therefore are not subject to real world laws, FirstMeta is actually providing credit that is tied to a real world account; in effect by securing their credit services they have crossed the line into the real world.

Crunch Network: CrunchBoard because it’s time for you to find a new Job2.0

Source: TechCrunch
Original Article: http://feeds.feedburner.com/~r/Techcrunch/~3/152335990/

Business 2.0, the magazine established in 1998 with the lofty goal of chronicling the rise of the New Economy is to close.

According to a NY Times report, Business 2.0 staff were told today that the publication will close next week after the completion of the October Edition.

There previously has been some rumors that Business 2.0 would be taken over by a new publisher, however it appears that Time has decided to kill the magazine (as the NY Times suggests) so as to not provide a ready made magazine and subscriber list to a competitor.

Business 2.0 was founded by Chris Anderson and journalist James Daly and served as a launching pad for a number of well known writers over its 10 years, Om Malik among them.

Crunch Network: CrunchBoard because it’s time for you to find a new Job2.0

Source: TechCrunch
Original Article: http://feeds.feedburner.com/~r/Techcrunch/~3/152317286/

Over the past year Facebook has been broadening its horizons, facing a bit of criticism each step of the way. First there was the newsfeed. Then there was the opening of the network to high schoolers and the general public. Largely the expansion has paid off for the Facebook, with the site’s growth rate hastening after each change. However, the changes have left some users wistful for a time when Facebook was a place just for college students.

College.com plans to serve those users. The site has all the basics of any other social networking system, but includes features specifically tailored for college students. They’ve just launched the site into public beta with over 30,000 students at Florida State University. To support the alumni network, they’ve also kept registration open to anyone, .edu address or not.

Like other networks, you can create a profile, make friends, write blog posts, hold events, join groups, and post videos. It’s all specific to what college you go to or of which you’re an alum. Similar to Facebook, your viewing privileges are linked what college network you joined with. However, they’re not tied to your email’s domain name. On top of the usual features, College.com has added some of their own. The more notable smaller features are dating compatibility tests, flash cards, news bulletin board, and a wake-up call feature that rings your phone at any time you choose.

The bigger difference comes with their school specific features. Like Facebook used to support, College.com lets you find and post your class schedule to your profile. To aid with college life, they’ve also included specialized profiles for professors and the Greek system. Professor profiles are listed in a school-specific directory, allowing you to read bios and rate them. The Greek system features profiles for Fraternities and Sororities on campus, with the ability to rush or list new organizations.

I can’t help but feel that a lot of this functionality may wind up returning to Facebook through the application platform. Not to mention the number of college specific Facebook competitors stacking up (ConnectU, CommonRoom). However, MyYearbook has gotten a lot of mileage out of targeting a social network that’s for and by high schoolers. College.com may do the same.

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Source: TechCrunch
Original Article: http://feeds.feedburner.com/~r/Techcrunch/~3/152297585/

Whatever Steve Jobs chooses to unveil tomorrow at a special media event in San Francisco, yours truly will be on location sending the guys over at CrunchGear the news as it unfolds. They will be posting all announcements to CrunchGear so be sure to keep checking that blog throughout the day to get your fill of Apple mania.

Live coverage will begin at 10:00 AM PST (1:00 PM EST) sharp on Wednesday, September 5th. The event is expected to last an hour and a half, but tune in at the beginning to find out what Steve will be wearing.

The rumor mill informs us that we have these announcements in store for us:

• Video iPod with 3.5-inch touchscreen display
• iPod Nano with video, a 320×240 display, 12 and 16GB capacities, and CoverFlow technology
• iPod support for digital radio and the purchasing songs from iTunes over WiFi
• Redesign and increased storage for the iPod Shuffle

Crunch Network: MobileCrunch Mobile Gadgets and Applications, Delivered Daily.

Source: TechCrunch
Original Article: http://feeds.feedburner.com/~r/Techcrunch/~3/152282333/

Todd Teresi has announced over at Yodel Anecdotal that Yahoo! will acquire online global ad network BlueLithium for about $300 million in cash.

According to the announcement, BlueLithium is the fifth largest ad network in the United States and the second largest in the United Kingdom with 145 million unique visitors per month.

Teresi describes the acquisition of this company with over 100 employees as important for making Yahoo! “one of the world’s leading online display ad networks.” Apparently, Yahoo! believes that BlueLithium’s data analytics and behavioral targeting tools will help them get there.

Yahoo!’s acquisition of the company comes less than 5 months after Google acquired DoubleClick and less than 4 months after Microsoft acquired aQuantive, albeit for much larger sums ($3.1 and $6 billion respectively).

BlueLithium was founded in 2004 and named 2006 Innovator of the Year by AlwaysOn. Details are available in Yahoo!’s official press release.

Crunch Network: CrunchBoard because it’s time for you to find a new Job2.0

Source: TechCrunch
Original Article: http://feeds.feedburner.com/~r/Techcrunch/~3/152258536/

Last week a lot of drama developed between Apple and NBC over who broke up with who. All we really know is that the pair allegedly split over conflicts around DRM and pricing control. It was quite a hit for Apple, with NBC making up 40% or iTune’s digital video downloads.

Today NBC found a friend in Amazon, announcing a deal to sell the network’s digital TV content. Amazon already sells NBC Universal’s movies. NBC shows available on Amazon Unbox will include The Office, Heroes, and 30 Rock. They will also be selling content from their subsidiaries: USA Network, SCI FI Channel, Bravo, Telemundo, mun2, NBC Sports, and NBC News. Beginning on September 10, Amazon Unbox customers will download for free — in advance of their network premieres — the pilot episodes of NBC’s new shows Bionic Woman, Chuck, Journeyman and Life. New episodes will be available for purchase on Amazon Unbox the day after they air on TV. Complete seasons may be purchased as soon as the season concludes.

The deal is yet another twist in NBC’s ongoing plans to monetize their content online. NBC has already announced plans to release the same content on their new site Hulu, with no word on how the new deal will affect the offering.

Crunch Network: CrunchBoard because it’s time for you to find a new Job2.0

Source: TechCrunch
Original Article: http://feeds.feedburner.com/~r/Techcrunch/~3/152257951/

Mobile devices remain social networking’s final frontier. There have been a few mobile applications coming out of the established players (Facebook), but social networking on the mobile phone has largely been an area for new entrants. They’ve included Loopt, Bluepulse, Zyb, MocoSpace, and SK telecom’s own Helio.

Aka Aki is a relatively new German mobile social networking startup running a private beta in Berlin. They aim to take social networking “to the street” (auf die straße), letting you discover and connect with other members as you go about your daily routine.

The service has two components: mobile and web. You can use the site as a standard social network (messaging, friending, etc), but the real differentiator comes from their Java/Bluetooth mobile application.

After you set up a profile with some salient details, Aka Aki uses your phone’s Bluetooth to find similar users who come within 20 meters (~65 ft.) of you. Then you can use the application to page through each of these profiles and connect with them. It’s reminiscent of Proxidate, the mobile dating service that alerts you of singles that enter within your Bluetooth’s range. Naturally, the Aka Aki is ideal for people who frequent crowded social spots such as bars, concerts, and parties.

However, the model comes with some significant drawbacks. Aka Aki’s can leave phones open to attacks over open Bluetooth connections and the users open to unwanted solicitations as they broadcast their profile everywhere they go. Aka Aki’s 20 meter limit makes it useful for random meetings instead of keeping tabs on friends. It also means you have to find yourself in those crowded spaces with other members fairly frequently to find it useful.

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Source: TechCrunch
Original Article: http://feeds.feedburner.com/~r/Techcrunch/~3/152244161/

The murmurs about new stealth search engine Cuill (pronounced “cool”), which were barely a whisper earlier this year, are gaining strength and are starting to reverberate through Silicon Valley gatherings. Expect Powerset-like hype to begin forming around Cuill in the next few months. The company just recently put up a landing page with very basic information.

The company’s main claim is that it can index web pages significantly faster and cheaper than Google can - Cuill has told potential investors that their indexing costs will be 1/10th of Google’s, based on new search architectures and relevance methods. In some ways Cuill is the polar opposite of Powerset, which has huge indexing costs because it does a deep contextual analysis on every sentence on every web page. Powerset’s indexing costs, therefore, should be much higher per web page than Google’s.

Cuill was also founded by highly respected search experts. Husband and wife team Tom Costello and Anna Patterson were joined by Russell Power. Patterson and Power are ex-Google search experts, and Google must be fuming that their inventions were not added to Google’s intellectual property library. Costello was the founder of Xift.

Cuill met with venture capitalists, but we’re hearing that Costello and Patterson eventually self-funded the company with a $5ish million injection of capital. They now have 10-15 employees and offices in Menlo Park.

Another rumor circulating is that Google already took a shot at acquiring the company with a very healthy offer, showing that they take this potential threat seriously. And the company may have enticed at least one other senior search scientist from Google to join them recently.

Cuill is supposedly set to launch some time in 2008, although they very well might be acquired well before the public gets to see what they are up to.

Crunch Network: CrunchGear drool over the sexiest new gadgets and hardware.

Source: TechCrunch
Original Article: http://feeds.feedburner.com/~r/Techcrunch/~3/152208336/

VideoEgg has just closed a $15 million series D round of funding led by Focus Ventures with WPP, Maveron, and August participating. VideoEgg cites plans to accelerate the development of their ad products and international sales network as the reasons behind the investment.

VideoEgg started off as a white-label video host, powering some notable web properties such as AOL sites, Bebo, hi5, Piczo, myYearbook, Dogster, Tagged and others. They then quickly incorporated an ad network. Like many other video startups, they did it through overlay advertisements (Yes, before YouTube). Startups are experimenting with other video ad formats “>as well. VideoEgg has been driving “significant” revenue through their overlay advertising.

Recently they applied that overlay model to Facebook as a new ad network, helping users monetize videos and applications. They reportedly pay a healthy CPM (developers have reported ~$8-10 CPM). Other Facebook ad networks include Lookery, RockYou, SocialMedia, and FB Exchange.

VideoEgg wants to continue developing their ad platform, moving from an impression model to an engagement model, while making ads more social. Although they remain tight lipped on the plans, ad networks on Facebook aim to make ads more engaging by tying virtual rewards to user’s contributions.

Crunch Network: MobileCrunch Mobile Gadgets and Applications, Delivered Daily.

Source: TechCrunch
Original Article: http://feeds.feedburner.com/~r/Techcrunch/~3/152207369/

Is this a brilliant PR move, or a sign of desperation? Web site builder Synthasite, which we took an early look at in November 2006, is giving 1 million shares of stock away to users.

Users earn shares by creating templates. Each template accepted by the company earns 1,000 shares for the creator. “We’re only selecting the best templates,” the company says.

The company won’t say what percentage of the company they are giving away, but do say that the shares are valued at $250,000. Since Synthasite has not raised significant outside capital, that valuation doesn’t mean much.

“If SynthaSite was ever acquired or became a listed entity, these shares would be worth exponentially more than what they are today,” the company says. That’s a bold statement, and one that would almost certainly get them in trouble if they were located in the U.S. Since Synthasite is located in South Africa, U.S. securities regulations don’t apply to them. So if you’re a designer willing to take a little risk, go get those shares.

Synthasite has a sophisticated site creation tool that competes with a host other startups and Google’s own page creator. Other competitors include Weebly and Jimdo. Webjam, Sampa, and Freewebs are creating communities around easily editable personal websites.

Crunch Network: CrunchBoard because it’s time for you to find a new Job2.0

Source: TechCrunch
Original Article: http://feeds.feedburner.com/~r/Techcrunch/~3/152163530/