In all the hype around Second Life you can sometimes forget that the real message is that 3D is now becoming a usable technology. Communities of people feel much more at ease if their synchronous communication takes place in a 3D immersive environment than when it happens in flat environments like chatrooms of fora.
Sony will release their 3D environment for PS3 users, called Home, in the fall as a free download. Next to chat, Home also provides voice communication, something that Second Life is due to release at the end of this month, and something we have seen in a number of 3D environments since the mid nineties as a standard feature.

There are public and private spaces (your own Home), in which you can play e.g. the music you have stored on your PS3, and listen to it with friends. Also you can start playing PS3 games with people you meet in Home. The appearance of your avatar, as well as the interior of your Home can be altered as you wish.
This is the trailer:

There is also a site where in the coming months you can sign up for a beta account for Home.

Found via Marc Canter.