Bloomberg provides an interesting video interview with IFEELGOODS, Inc CEO, Scott Silverman discussing Facebook Credits virtual currency.
Tag Archives: Facebook Credits
VentureBeat has published a very good video of Facebook CEO Mark Zuckerberg and staff members discussing changes on the platform. Topics include scaling the platform, virality, Facebook Credits and cost of user acquisition.
Social Networking giant Facebook partners with in-game monetization specialist PlaySpan to globally expand the reach of their virtual currency, Facebook Credits. Articles and analysis from:
InternetRetailer ” More than 75 developers use Facebook Credits in more than 200 games and applications on the social network. This agreement should spur significant growth in developers using Facebook Credits in the next few months, says a PlaySpan spokesman.”
InsideFacebook ” This deal helps Facebook quickly make it easier for users to pay in the international markets where PlaySpan has worked to develop payment partnerships.”
AllFacebook ” The additional payment options make it easier for developers to expand their international reach and attract a broader set of people, since not everyone has access to credit or debit cards or PayPal. “
Gamerlaw.co.uk “ Facebook Credits are an increasingly healthy source of revenue for Facebook – consumers pay real money for Credits and use those Credits in virtual goods transactions, e.g. in games like Farmville, with Facebook deducting a 30% transaction fee.”
Learn more about the virtual currency revolution at VirtualCurrencyNews.com
Zynga drops its plans to use other virtual currency providers on Facebook and goes all in with Facebook Credits. Articles and analysis by:
WebProNews ” Another possibility is that Facebook will just force all of the holdouts to adapt at some point, too, since most of the bigger players have already agreed not to put up a fight.”
Inside Social Games ” Facebook says it expects that over time Credits will be the main way that applications and people transact on Facebook Platform, although it hasn’t officially stated that Credits will be mandated.”
TechCrunch “Don’t expect to see Facebook Credits being rolled out in Zynga’s games on other platforms like Yahoo. Zynga and Facebook have found détente for now, but I don’t see Zynga processing a single dollar through Facebook that they don’t have to.”
Bloomberg “The move signals Facebook’s tightening grip on the virtual- goods market, which could generate $1.6 billion in the U.S. this year, according to the research firm Inside Network.”
Mega-retailer Target is now offering Facebook Credits gift cards in their stores. This move could greatly increase the virtual currency purchase volume by social gamers. Articles and analysis from:
Mashable ” Facebook Credits gift cards package the virtual currency in consumer-friendly entities, which Facebook hopes will appeal to holiday shoppers.”
MarketWatch – Press Release
GigaOM ” The points can be used to buy virtual goods on Facebook in a variety of applications and games. Offering such deals is a way for the social network to connect its online offerings with people’s real-world lives and potentially expand its user base.”
Fox News ” Facebook Credits are a form of virtual currency for use at the social-networking site, most notably in the wildly popular games from developer Zygna.”
Barron’s ” Target says the cards will be “an ideal gift this holiday season for those who enjoy playing social games on Facebook.”
CNET ” In an e-mailed statement, Facebook confirmed that it would, in fact, be offering its Credits gift cards at other retail stores.”
ABC News provides a video discussing FarmVille and mentions the Target Gift card campaign.
Social Media guru Laurel Papworth breaks down the potential impact of widescale adoption of Facebook Credits virtual currency as a method of purchasing “real world” products and services. Kudos to Gamezebo for spotlighting this provocative article.
” Expect to see everyone from Nike (rewarding you for uploading your nutrition/exercise program) to TV Stations (rewarding you for becoming a Fan/Like of Lost or Big Brother page) jumping in. The current emphasis on rewards of credits going to Facebook Advertising implies that Facebook are going hungrily after Google’s Adsense/Adwords revenue.”
– Laurel Papworth
TechCrunch reports that Google has acquired Jambool, developer of the “Social Gold” virtual currency platform. Will Social Gold combined with Google Checkout be the counter-punch Google needs against Facebook Credits? Additional articles and analysis by:
Gamasutra ” Jambool is based in San Francisco and was founded in 2006 by Amazon.com veterans Vikas Gupta and Reza Hussein.”
Gamezebo ” For Google, this technology is applicable for both social games as well as Android, which embraces flash (unlike Apple and it’s devices).”
GigaOM ” The big problem for Google is that advertisers go where the users are, and those users are spending more and more time on social networks.”
Fortune ” Social Gold is a direct competitor with Facebook Credits for social currency that act as payments to developers and game companies.”
CNET ” With Facebook now expanding the Credits system and potentially snuffing out third-party virtual-currency providers–it’s been gradually winning over the most powerful social-game manufacturers on its developer platform–many of those start-ups are undoubtedly hunting for exit strategies.”
Forbes 8/13/2010 ” Google may be hoping that games could also be its social network hook to attract users.”
Learn more about virtual currency at VirtualCurrencyNews.com