PlayStation Home
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Sony's answer to Second Life isn't quite ready to lose it's beta tag, however the doors are being opened to the general public at some stage later today. You'll need to reboot your console and sign in to a PlayStation Network account before the icon appears in the XMB.
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Sony is expanding their PlayStation Home beta test at the end of the month, and they're looking for testers in the U.S. that meet "a variety of criteria" including their level of activity on the PlayStation Network.