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IBM engineers are demonstrating the integration of Lotus Sametime with the several virtual world platforms.

httpv://www.youtube.com/watch?v=QzuiEzTah5w

A 3-D meeting can be launched directly from within Sametime, creating a virtual meeting space that uses Sametime capabilities available in a virtual environment, including presentation tools, access to the avatar’s inventory and full avatar functionality demonstrating the business value virtual environments can bring to the future of unified communications.

This is a proof of concept and a first good step. There are lot of companies trying to develop gaming and informal environments such as second life. I believe, virtual world is moving towards augmented reality. We have processor speed now that could process CGI animation in real time using a normal desktop computer. 

I think we would see a lot of application focusing on virtual and augmented reality.