China and the Metaverse, Tesco v Northern Rock, Bed Stuy Flower Meadow

To Protect Economy, China Sets Limits on Virtual Currency

Online transactions with virtual currency in online gaming has become so widespread in China that the government fears it will affect the actual economy, The New York Times reports. The country is currently one of the world’s largest markets for massive multiplayer online games (MMOGs) like World of Warcraft; tens of millions of youth are reportedly trading virtual goods for real money or products, such as clothing or makeup.

Tesco tipped to make bid for Northern Rock

Tesco is reported to be considering a bid for Northern Rock, the bank which was nationalised last year after running into liquidity problems stemming from the sub-prime mortgage crisis. The Times reports today that the government is in favour of a sale of the bank, which was nationalised to save it from collapse. The paper says that prime minister Gordon Brown is keen to sell Northern Rock back into private ownership at a profit before an election and avoid the Conservatives taking credit for any such deal.

Bed Stuy Meadow: Transforming a Neighborhood With Flowers
21st Century Plowshare went on a mission this past April to transform the urban landscape of Bed Stuy, Brooklyn. The group set out to plant wildflower seeds on every single patch of abandoned soil within the neighborhood, creating a massive”urban meadow”.