Everyone is forwarding towards the virtual reality or online world i.e. Second Life because there are more than enough things that one can accomplish in the virtual world. Sony is also influence with Linden Lab's 3D virtual world and has planned to create its own online world named Home.

Concept of Home is much like Linden Lab. As you can create your own avatars, design clothes, buy or sell lands, etc, etc, similarly, you will be able to do all that in real-time, networked world for PS3. Here also, the users will be able to personalize their virtual home with furniture, art and other items and chat through audio or video link and craft life like characters called avatars, play online, invite friends.

The whole phenomenon takes after Second Life as with the help of avatars, the user will be able to interact with online friends.
Beta version is coming out in April and will make its debut in the fall time as a free download will be available on the PlayStation online store.
Phil Harrison's quote on PlayStation Home:
This is not just about Sony brands and Sony games - it's a much wider network of connected spaces
Simultaneously, Sony has revealed another virtual world for PlayStation users dubbed LittleBigPlanet that also offers players a chance to create game like build obstacle courses, puzzles and other games that will be launched early next year. You will be able to get your hands on the new emergence this fall.

The innovative move of Sony is obvious as the existing virtual business is on boom and big business giants like Dell and IBM are poking their hands into virtual business. Some market analysts have rightly forecasted that the virtual business is growing very fast and soon it will hack back the real world economy.
Via: bbc

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