Today at the Ginko Financial region in Second Life Island, it was announce that Ginko was selling the land to Quanta Torok. Quanta will be using this land to set up his new bank which will be based on deposits backed by gold deposited at Bullionvault.com. Initially, Quanta plans to deposit $20,000 in Bullion Vault. He lives in the Denver area, and has offered to release his ‘secret name’ at the vault, as well as real life name and phone number.

Quanta is also interested in OpenSim and I have spoken with him a little bit about how a gold based bank operating in Second Life could be an interesting platform for inter-grid as well as inter-game financial services. It could also open up Second Life to micro commodity trading. Who knows, it could easily to other forms of micro commodity trading in Second Life.

The Ginko Financial region will be renamed to Andalusia. When I hear Andalusia, my mind goes to Luis Bunuel’s famous film, Un Chien Andalou, which he wrote in 1929, just before the stock market crash, with Surrealist master Salvador Dali. This film was followed by L’Age d’or, The Age of Gold, another surrealist masterpiece collaboration between Luis Bunuel and Salvador Dali.

It is unclear how the proceeds from the land sale will be used or distributed, but dividends on the Ginko Perpetual Bonds, WSE.GPB are said to be due on Nov 1st, and some may come in that form. GPB trading on the World Stock Exchange so far seems unaffected by the land sale.

It will be interesting to see what develops next.