Looks like there’s a competitor to Second Life in BETA over in China.
While all the same functionality is here as in Second Life, the graphics and animations look a little rough.
Two things that I noticed on a first viewing of the YouTube video: There’s a rotating preview of inventory items from the inventory pop-up before you rez the item (that would be a very nice feature in Second Life). The house that is rezzed looks to be stretchable after being rezzed.
It will be interesting to see where this goes in China. With all of the restrictions placed on residents of China, what regulations might be imposed on a virtual world in China?