Minyanland virtual world aims to teach kids finance

Launched January 30, MinyanLand is the consequence of the subject Council on Economic Education, financial infotainment company Minyanville and household site web Kaboose, approach together to try and educate children in class three to six about the importance of financial responsibility and thrifty spending. Unlike several other virtual worlds targeting the kids marketplace, including Disney's Club Penguin, Minyanland does not require a subscription fee to participate, according to Kevin Wassong, president of Minyanville.

"We want to make this accessible to as many kids as possible. If you go subscription on this you're going to eliminate some people who likely need the help the most," he said.

To finance the virtual world, Wassong is presently looking for real world trade name to be represented in the virtual world's economic system. Financial advertisers might appear as virtual banks, for case. In the week since its initial beta launch, the virtual world has accumulated 4,070 users, which Wassong hopes will be a draw for trade name that want to establish a positive relationship with a youthful audience.

"It's the ability to attach your merchandise to a brand that is doing good at the same time you are selling," he said.

Participants in the virtual world can purchase goods and services at increasingly higher degree. They can rent apartments, then ascent to homes in higher profile neighborhoods. They can invest in the stock marketplace and hold jobs. Employ in MinyanLand might take the form of a paper route or lemonade stand.

The virtual world also allows parents to get involved by assignment their child real world job, like devising their bed or cleansing the dishes, that can be paid for in virtual money.