Tuesday, January 25, 2011

Facebook Credits the only way to pay on Facebook

Game developers on Facebook soon must accept the social network site's Credits -- a move expected to pad the company's coffers, since Facebook charges a flat 30% whenever users buy anything with the currency.

The rule, which goes into effect on July 1, will be the exclusive way users can invest their real money into games running on Facebook. Developers may opt to continue their own in-game currencies, such as FarmBucks or CityCash, but users must buy these funds in Facebook Credits, not U.S. dollars, British pounds, or Euros.

Today, 150 developers use Facebook Credits in more than 350 applications, said Deb Liu, a platform marketing manager at Facebook, in a company blog. This represents more than 70% of the virtual-goods transaction volume on the site, she said.
Full article at newsweek

I am now a little confused, if credits is for facebook a legal currency, is it then a legal currency to trade? If so does the value of facebook currency goes up and down on the stock market?

Does Facebook not go to far with this? Not only trying to build their own online country but as well their own currency. How do i as an user know the value behind the currency? Maybe soon faceboook starts to offer their own passport?

Having Facebook credits, how can i use them somewhere else? Maybe i want to play farmville on the iphone not within facebook, is the currency working?

I think the government should stop sometimes companies doing certain things. I remember back in time the copper mines in Chile had all their own currencies that the workers can only spend the earned money within the copper mine facility to get food etc. This was and is not social at all. I want to decide where i can use my currency and not be dictated by a company. Does a Facebook employee get paid by Facebook currency?

What do you think, is Facebook going to far?

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