Bringing the Hammer Down

As widely anticipated, Facebook makes their virtual currency, Facebook Credits a  mandatory option for all social game developers that use a payment system.  Articles and analysis from:

The Wall Street Journal ” Facebook began testing Credits as a form of currency with some developers in 2009. It says they are now used in more than 350 applications from 150 developers, representing more than 70% of virtual goods transactions volume on Facebook.”

WebProNews “ Users and developers shouldn’t react with too much dismay.  Other in-game currencies will be still be permitted, and Facebook intends to let developers keep 70 percent of the revenue from transactions that involve Facebook Credits.”

The Street ” While some game developers have their own currency payment methods, most large app companies already use Facebook Credits.” 

GigaOM ” Facebook developers will have the option of using their own payment system in addition to Facebook Credits but Facebook will be offering incentives like early access to product features and on-site promotion to help get them on board fully.”

Forbes “ Forex traders and global conspiracy theorists take note: with close to 600 million people using the system, we could be watching a Dollar rival spring to life. To the bunkers! ”

TechCrunch “ This is about more than purple cows and gold coins, too — in the long run, Facebook has a strong incentive to maximize the number of users who are signed up for Credits. Right now the vast majority of Credits are spent on gaming, but it’s very likely that Facebook will eventually begin allowing third-party websites to offer a ‘Pay With Facebook’ option, and that may include everything from digital content to physical goods.”

Video: interviews with social game developers concerning the initial Facebook Credits announcement at the  f8 Conference (about 10 months ago)

 

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Filed under Facebook Credits, social games, virtual currency, virtual goods

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