Will we be seeing a Facebook currency soon?

A recent post on the Facebook blog has shown that Facebook’s very own currency, titled Facebook Credits, could be close to being launched on the popular social networking site!

The blog post by Facebook’s Deborah Liu explains what the currency system is all about and how they plan to use it on the site:

“Today more than 500,000 applications exist on Facebook, and the virtual goods within those applications (particularly games) have become an increasingly valuable part of the user experience. By providing a single, cross-application currency, our goal is to making transactions simpler for users, leading to a higher conversion rate for developers. Specifically, our early testing has shown that users paying with Facebook Credits are significantly more likely to complete a purchase than the average Facebook user.”

Deborah Liu also mentioned that there will be several ways for the user to gain Facebook Credits as the website will be accepting payments in 15 different currencies, most credit cards, mobile payments and will soon be adding Paypal!

You’ll see that many of the developers on Facebook have acknowledged the idea of having credits and will be implementing it into many current and future applications! In feedback, developers have mentioned that transactions using Facebook Credits have made the process of buying items much simpler which they think will help to increase the number of sales they’ll be getting.

One thing the developers aren’t pleased about is that Facebook want 30% from every transaction!

Developers are claiming that is too much! However, Facebook have replied to these comments and have said that all the money made from this income will be put back into developing the Facebook Credits further and improving the system!

So what are you opinions on Facebook Credits? Do you think Facebook are doing the right thing be taking a 30% share off the developers?

Stay tuned to DigiLounge for the latest in the tech world!

Comments

[Robert]

Interesting, as long as it does not affect me, I don't really care. I'm getting away from the games anyway! they are too much fun & too much of a time waster!