Facebook Credits and Their Commercial Potential

March 5th, 2010 at 12:00 am

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Facebook, with their recently inked partnership with online payment system giant PayPal, may be on their way to bigger things. The popular online social networking site made the partnership in order to make it easier for online users to purchase Facebook Credits, a virtual currency that the social networking site members use to buy virtual gifts and services. These credits are more popularly used by Facebook members in popular on-site games such as FarmVille for buying virtual goods to advance into the game.

Although the use of Facebook Credits may be considered as basic at most for now, its potential for commercial use in the future remains quite interesting. It may just be some time before this virtual currency may be used for other things such as purchasing real goods online. It may then revolutionize e-commerce in ways that would eventually create a relatively new, more stable, secure as well as popular online marketplace.

One of the best ways that virtual currency may be widely embraced by a majority of online users is by making them widely accessible to an established online population. Facebook has quite a large base of members that number in the millions worldwide. This would make it easier to introduce various uses of Facebook Credits in the future that people may easily embrace.

The Facebook Credits program and its potential for commercial use can be considered quite attractive. But currently, Facebook does not have any other plans as yet to make use of its application for buying and selling real products. For now, its use may be limited to virtual good that may exist only online. But the technology and the current infrastructure it is being built upon may show that it may be capable of being more than just a virtual currency for virtual goods. Who knows what the future really holds for Facebook Credits?