By Jon Matonis Forbes Tuesday, April 10, 2012 http://www.forbes.com/sites/jonmatonis/2012/04/10/virtual-currency-exchange-first-meta-closes-466000-funding-round/ In a little-discussed announcement, First Meta took in nearly half-a-million dollars for the expansion of its multi-world virtual currency exchange. Singapore-based First Meta is unique in that they have consistently provided a two-way exchange service for virtual currencies that typically only see one-way activity. Why is this significant? For starters, it gives individuals the opportunity to cash out or monetize their virtual world activities just as I outlined in my previous article Virtual Currencies and Roach Motels. When it comes to Linden Dollars, IMVU Credits, Frenzoo Gold Coins, and other currencies, it is this two-way convertibility and getting the most out of your virtual assets that make the team at First Meta stand out. The investment announced on March 29th came from Silicon Valley business accelerator Plug and Play Tech Center and Singapore’s National Research Foundation. The new capital will be used to build the next generation of its virtual goods and currency exchange and expand support to other platforms. First Meta was founded in February 2007 by Douglas Abrams and Aileen Sim who then had their early prominent business success in Second Life with MetaCard and virtual ATMs. It is important to note that the co-founders also have a background in banking, finance,...