Hi5’s virtual entertainment plans could hit a virtual jackpot

I am not a fan of Hi5.com at all,since signing up about a year ago, but hey that’s just me. They seem to be heading in the direction of reinvention. They’re going virtual. Read more. Because Facebook is the largest, fastest-growing network in the world, a big question is what other social networks are going to do to compete. Hi5, with approximately 60 million monthly unique visitors, is in the process of making itself an “immersive social environment” that includes virtual goods, avatars, games, instant messaging and a 3-D world geared at older teens worldwide. The company plans to make money off of virtual goods — not traditional online advertising. More