Facebook in Talks About Virtual Currency

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Facebook may well not be something too many of us consider actually spending money on, but the company has had its own virtual currency in place for quite some time. Now though, it’s talking to developers about how they can use the “credits” system themselves.

At the moment, credits on Facebook are bought and used to buy gifts, whether Facebook-based cards to celebrate birthdays or songs made available thanks to Facebook’s team-up with popular US only music service Lala.com. Until now though, third party developers had been left out of the loop when it came to people actually coughing up their own cash for Facebook.

As the folks at InsideFacebook point out, there are plenty of big apps on Facebook, games for the most part, that boast their own, already successful, virtual currency models. One of the suggestions that’s been made is that Facebook could simply make it mandatory that all apps that talk to Facebook profiles deal in Facebook’s own credits, rather than the host of various other virtual currencies there are.

Given the unreasonably addictive nature of some of the games on Facebook (anyone with a few friends playing Farmville or Mafia Wars will attest to that one) it seems as though a move like this could make for a very pleased Facebook indeed.

Of course, InsideFacebook is fairly quick to point out that any such suggestions are purest speculation until we hear, either from Facebook or from one of the developers it’s been talking to, just what Facebook plans for the future of its virtual currency. Still, by now it seems as though Facebook has enough traction that it’ll make some pretty staggering income once it throws itself behind “credits” in a big way.

Hopefully we won’t see it go the way of the Linden Dollar, for those who remember Second Life.

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