ECommerce's future lies in Virtual Worlds according to ICANN CEO Paul Twomey and as reported in TechCrunch today - Virtual Worlds Are The Future Of Global Commerce: ICANN CEO.

"..Twomey used The Sims Online as an example of the sort of interface all companies in the future will be using, in fields including retail, client services, B2B and advertising. Twomey cited the interface behind Google Earth as another example of a “game-like interface” that has been put to real world use. Twomey said that geolocation services would also play an important role in the virtual Internet, suggesting that the way we will interact within next generation virtual Internet services would have a strong geographical focus."

According to WikiPedia - "Electronic commerce, commonly known as e-commerce or eCommerce, consists of the buying and selling of products or services over electronic systems such as the Internet and other computer networks. The amount of trade conducted electronically has grown dramatically since the wide introduction of the Internet. "

Meanwhile ECommerceTimes has a story on Virtual Worlds: An Economist's Sandbox where "..On July 25, the company controlling Second Life announced that it would no longer allow gambling. Economic activity was cut by nearly half as gambling halls shut down. That's a recipe for disaster in any economy, but the online world stayed on an even keel."  

Also, Marshall Brain at HowStuffWorks.com explains ECommerce in several simple steps but I'd like to see it updated to include Virtual Worlds ECommerce.  Right now the examples given are:

"..

heard about all of the companies that offer e-commerce because you have been bombarded by their TV and radio ads

read all of the news stories about the shift to e-commerce and the hype that has developed around e-commerce companies

seen the huge valuations that Web companies get in the stock market, even when they don't make a profit

purchased something on the Web, so you have direct personal experience with e-commerce ."

According to TechCrunch:

"..It’s interesting that the head of the body that controls the Internet believes that the world of tomorrow is virtual; Twomey didn’t suggest that it may happen, he stated that it would be as a fact. Virtual worlds such as Second Life may not be the exact model used in the future, but there is little doubt that if Twomey is correct they are certainly heading in the right direction."

There…take that!  All the critics saying they're not convinced about Virtual Worlds  - they don't get it - but the head of by organization that runs the Internet does.  

I just follow my own opinion, and you know what it is.