Facebook Credits coverage from f8 2010

Facebook Credits was a hot topic at the recent f8 2010 Conference in San Francisco. Articles and extensive analysis from:

The Wall Street Journal ” Instead of consumers having separate virtual currencies on separate Facebook applications, Facebook Credits will enable people to use one currency across all apps, which will reduce “friction” and increase transactions, Zuckerberg said.”

Financial Times ” At 30 per cent, Facebook is likely to see significant revenues from its Credits business as social gaming and sales of virtual goods boom on the social networking service and sites linked to it through Facebook Connect and Open Graph.”

VentureBeat ” In a question and answer session about Facebook Credits, developers were clearly disturbed with the plan for Facebook to keep 30 percent of every transaction.” Note: More on the subject here

BusinessWeek ” With Credits, Facebook is wading into the deepening virtual-goods market, which will almost double to $1.6 billion this year and could reach $3.6 billion in three years, according to Atul Bagga, a ThinkEquity LLC analyst in San Francisco.”

AllFacebook ” Additionally, Facebook will begin “seeding” millions of Facebook users accounts with Credits for them to spend in applications. For example, let’s say that a user is playing FarmVille yet has never purchase a virtual gift in the game. In order to get the user familiar with the virtual goods purchase behavior, Facebook will provide free credits to the user.”

ReadWriteWeb ” To coincide with the growth of the application market, particularly in the area of social gaming, Facebook also announced the expansion of its official virtual currency, Credits.”

Silicon Republic ” The move is intended to take advantage of the growing external ecosystem that Facebook Connect is already creating, which includes nine out of 10 news service providers and the top 10 iPhone apps.”

bNet ” The advantage is a lower barrier to adoption for users, who would have the advantage of only having to pay into a single system, and being able to take their pool of Credits to any app.”

At f8 2010, Mark Zuckerburg provides an update on Facebook Credits at about the 5:30 mark of the video.


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