Accessability Links
Search for Jobs

Facebook launches new currency

14 Jul 10 - 12:00AM

Facebook will be rolling out its own currency in the form of real cash 'credits' from September.

The social networking site will allow its users to make cash transactions for virtual gifts and other goods that could see the site becoming more open to third-party developers.

In addition, it could become far easier for developers and retailers to become integrated into the site as users will not have to switch between payment systems.

Facebook's revenue on each transaction will be around 30 per cent.

According to reports, $5 dollars (£3.27) can buy 50 credits, which can be used anywhere on the site, including within popular games such as Farmville.

On closing the gift shop, Jared Morgenstern of the site blogged last week: "Out of the gift shop's "gift credits" came the virtual currency, Facebook Credits, that now makes it easier for people to buy premium items across the many games and applications on Facebook."

Items similar to those in the gift Shop will be available via third-party developers including Hallmark and Flair.

 

Find the latest media agency jobs from pfj

Digg It! facebook google google-reader windows-live live-journal lycos propeller StumbleUpon Technorati yahoo Add This
Related headlines
Pinterest for Business Launched
19 Nov 12 - 12:00AM From the IAB Fast growing social networking website Pinterest has launched a new business arm to help brands market t...
Channelin Digital Insight
4 Oct 12 - 12:00AM From Research Live Google knows huge amounts about what people do online. But for a full picture of the digital lives...
Real-time ad buying needs more research support – Microsoft
18 Sep 12 - 12:00AM From Research Live US— The take-up of real-time online ad buying (RTB) is being held back by a lack of appropriate me...

Latest Blogs
Five reasons why you shouldn’t be scared to become a contractor…
Five reasons why you shouldn’t be scared to become a contractor…
Posted by: Luke Cox 15 Apr 14 - 12:00AM
Aspire Global Network News | Market Research | Media Sales | Miscellaneous
By Luke Cox Manager Click here to see our latest roles! I’ve lost count at the amount of peop...
How Soon is Now?
How Soon is Now?
Posted by: Peter Connelly, 020 7612 3900 7 Mar 14 - 12:00AM
General | Media Planning & Buying
By Peter Connelly Consultant Click here to see our latest roles! If you were to take a poll ...
Related videos
Search More News
Open the calendar popup.
Open the calendar popup.