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by  January 25, 2011 Comments

Facebook Currency Credits Are Virtually Coming Our Way

The people over at Facebook have been beta testing a virtual currency credit system in which developers will pe paid for their apps. Not only is Facebook currency going to be a reality, but the company plans on getting a 30% cut on all purchases made through Facebook. This is similar to what Apple gets for their cut of allowing developers to sell their wares in the Apple app. store. Needless to say this is going to add a tremendous amount of value to Facebook as they continue their growth at becoming the largest social networking site ever.

This could also allow Facebook to become their own online payment system similar to PayPal. Google also uses a system similar to PayPal called Google Checkout, and Facebook could challenge them as well.

In a recent article it also stated that:

Facebook Credits was first launched in beta last year and though it forced developers to hand over a big chunk of their revenue, Facebook sold them on the system by emphasizing its ease of use and how well it monetizes with users.

For those of us who choose not to partake in the games on Facebook or buy anything, this will have no affect on using Facebook.”

With 600 million people using the social networking site, one can only imagine that Facebook credits will be a huge success. One can also imagine that Facebook will be raking in the dough as well.

This will only make Facebook increase in value and I would venture a guess that one day they will surpass both Google and Microsoft. :-)

Comments welcome.

Source -  gigaom

Article Written by

My career has included owning and operating my own computer repair business as well as teaching at the local community college -- both of which were located in Tuolumne County, California. During this time I was fortunate to have contracts with the city of Sonora and several established real estate firms.

I have been writing for LockerGnome since relocating to Missouri six years ago, where I continue to be a technology enthusiast who enjoys playing with the newest and latest gadgets.

Comments

  1. Tweets that mention Facebook Currency Credits Are Virtually Coming Our Way « The Blade by Ron Schenone, MVP -- Topsy.com says:
    January 25, 2011 at 3:55 pm

    [...] This post was mentioned on Twitter by funnywebsites, Mark Owen. Mark Owen said: Facebook Currency Credits Are Virtually Coming Our Way « The Blade by Ron Schenone, MVP http://ow.ly/3K8Md [...]

  2. Dick says:
    January 25, 2011 at 4:08 pm

    Probably be worth more than US Dollars in the near future.

    1. Ron Schenone says:
      January 25, 2011 at 5:17 pm

      Hi Dick,
      I’ve been thinking about selling my gold and buying Facebook script. :-)

  3. CC Banc says:
    February 13, 2011 at 2:09 pm

    Facebook credits are not a currency. They are nothing more than a “token” with restricted value and when used no longer have any intrinsic value whatsoever. A true currency circulates as it represents a “unit of account” that has an intrinsic stored value that is accepted in the marketplace. For example take a look at WIR Bank in Switzerland, an excellent example of a complementary currency, something that FB Credits most certainly are NOT.