Re: No second life for Second Life?
For real though, if you look up the old articles on Sadville on El Reg, SL has had since about 2005 (and continue to have) being able to create items and give or sell them, either transfer once or re-transferable (so you could sell it to someone else). You have land that you can buy from SL or buy from someone else, you can subdivide your land down to I think 1 meter interval, avatars have clothing and all that and there are people in there making clothing and such for sale, jewlery, artwork, etc.. There's road and rail networks in there which made land near the roads more valuable if someone wanted to use a car or train to travel (or wanted to put up billboards to advertise to those on the road or train), although since you can fly or teleport anyway. (edit: Also scripting and pulling in data from outside -- like I was in a space area and the Earth wasn't a generic earth, it used live satellite photos clouds and all so it was like a live view of Earth.)
They don't have blockchain, you have a Lindens at 250 Lindens per dollar exchange rate, and since free accounts only get a 1-time 250 lindens there's not some huge amount of them floating around with no currency spent on them.
My understanding is, given all this, what keeps SL afloat is in-SL casinos, SL gets a 5-10% cut on that, and pornography (like strip clubs and such).
I'm not excited about a re-implementation of SL where Facebook (I mean "Meta") is hovering up all my personal data. But I guess we'll see.
Edit: Unfortunately for them, the code base still uses OpenGL 2.1, and it's virtually impossible to update since the whole system of retreiving textures and meshes, etc., is all tied tightly into the OpenGL code and it'd be like a from-scratch rewrite to seperate them.