3d Chat Application

I'm curious if people think that the torque engine could be used for designing a 3d chat world where users can interact and create custom content for the world.

I've looked into the torque engine before in the past but its advanced alot sense I innitially looked into it and has perked some intrest. There is one other application that I'm also looking into but its abit more spendy then torque.

I'm interested in the possibility of creating such a program using this engine as sense it can be used for mulitplayer online games, im curious if anyone has thought about using it to design a 3d chat world, and what they may have discovered as well as the plus / minuses of doing such a creation using this engine.

I've already assimbled a team of individuals to work on the project, were just trying to deside which engine to go with at the momement. We currently have 2 programmers, 2 meshers, 1 sound effects, 2 texture artists, and of course myself (do just about all those things). Any information would be apreciated, I'm looking forward to your replies.