sered has an interesting post on location, comparing it in Second Life and Eve Online, and finishing off the discussion with a comparison to Twinity:

Twinity
So where does Twinity fit in? Is geography a factor? How about teleportation? As said before, Twinity attempts to be a mix between real and virtual life. Twinity does have virtual recreations or real world cities: Berlin most notably, but there’s talk about Singapore and London as well. If you own a store in the real Berlin, you can hire the same spot in Twinity’s Berlin as well, and you can sell virtual copies of your original goods there. You can teleport to this location, but geography is still a factor; not in terms of distance, but certainly in terms of location.