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Facebook Lets Developers Customise their Virtual Currencies

  • Facebook launches a new option to let developers “create” their “own” virtual currencies relying on the Facebook Credits platform.
  • This process only requires a name and change rate based on Facebook Credits. The app will then be displaying the customised currency; a single app may include several names/currencies.
  • Developers can now “namely” monetise their apps; yet, 30% of the transactions amounts will still go to the social network.
  • The US player is carrying on the development of its Credits, already helped by gift cards (now sold in some physical stores, including Fnac –see December 2011 Insight) and their possible use with third party websites.
  • Some games vendors (such as Zynga, Electronic Arts, Playdom, etc.) were already able to propose native virtual currencies given their five years commitment to the social network’s Credits: this possibility is now offered to all developers. Also to be noted: the price of Facebook Credits varies from 0.067 and 0.079 euro.
  • This initiative may reassure developers and provide them with more flexibility through customisation while, step by step, imposing the use of Facebook Credits.