Virtual Worlds is reporting that There.com will shut down their public environment this week. They were funded via the micro-payment model and said the economic downturn hit their customers hard, thus virtual purchases stopped. It will be interesting to see how the other micro-payment funded systems survive reduced consumer demand.

One interesting side note, Forterra’s OLIVE, which was just sold to SAIC,  shared code base with There.com.

UPDATE:

Rumor at GDC2010 is that the There.com parent company has now shut it’s doors as well. This is unconfirmed and it’s not clear what happens to the Intellectual Property.

 

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