Posts tagged with Credits

Facebook to make Credits mandatory for games in July

The market for digital goods and virtual currency on its site is already a billion-dollar one, but up until now, Facebook is capturing only a fraction of the business.

The reason: it gives developers great freedom to monetize their applications using whatever business models and third-party services they think work best.

But that will be coming to an end this July as the world's largest social network looks to further boost its revenue growth.

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Facebook to Zynga: we're not in Farmville any more

Facebook has sat by and watched as prominent application developers have made millions upon millions of dollars on its platform, primarily through virtual currency. Not surprisingly, Facebook wants a piece of the action and is moving to take a piece of the action.

But that may not be so easy if the results of early deal making efforts are any indication. Application developer Zynga, which operates some of the most popular social gaming apps on Facebook, including Farmville and Mafia Wars, may leave Facebook and set up its own gaming social network after negotiations with Facebook over the use of Facebook's upcoming universal payments and credits system reportedly fell apart.

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In the short term, developers will pay for the Facebook and PayPal partnership

There may have been a time when Facebook was hoping to create its own PayPal killer with the "Facebook Wallet," but those days are over. Today Facebook announced that it has entered into a strategic partnership with PayPal. Now users can use PayPal to purchase self-service ads and Facebook Credits on the social network.

This is good news for Facebook — and especially PayPal — but what about Facebook developers?

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Facebook's virtual currency conundrum

Social networking giant Facebook is reportedly going to pull in approximately half a billion dollars this year in advertising revenue. It's a significant amount, but hundreds of millions of dollars more are being made on Facebook through virtual currency transactions that Facebook has no part of.

Facebook, of course, has its own official virtual currency, Credits, but most Facebook app developers can't integrate them with their apps, and are not required to use them.

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