Online virtual worlds are rapidly becoming recognized as an important new channel for marketing and brand-building. However, the nature of the channel is likely to be quite different to other channels, including the Web. To explore this new channel, this research aimed at assessing the brand value of real-life brands that have moved to the virtual world of Second Life. Using axiology, we develop a scale to measure brand value and then assess the value of eight real-life brands in Second Life. The results demonstrate both the value of the methodology and the apparent differences in consumer perceptions of brand in the virtual world.