Wednesday, 17 November 2010

FACEBOOK CREDITS: VIRTUAL CURRENCY WITH REAL VALUE

So, Facebook are the innovation monsters of the moment with expected gamechanger 'Messages' announced officially on Monday and the announcement that Facebook 'Credits' go on sale in Game and even Tesco supermarkets this week. We know that Social gaming shows no signs of slowing down and with over 50% of games (including Farmville - the most popular social game) adopting Facebook credits it would seem that Facebook are pioneering virtual to physical currency offering in its truest sense. Users will be able to spend credits in social environments to obtain virtual tools and power-ups in the gaming environment.

For me, here are some the more interesting thoughts:

Social to monetise Forresters ‘Young Teens’ classification:

Facebook have found a way to tap into the under 18 market effectively. This demographic are less likely to have access to credit or debit cards, yet according to Forrester, Young Teens will be the most active in the social space. Now school children can exchange their pocket money at the local Newsagent for Facebook credits as opposed to Panini football stickers (or WWF when I was but a lad!)

Facebook Connect:

In theory there is nothing to stop Facebook expanding their offering past virtual currency to real tangible physical goods. Stores like Levis are hugely integrated with connect already but still long for that REAL TANGIBLE BENEFIT then again doesn’t every brand in the social space…

Has FB connect for instance been one big plan to set up the most advanced virtual trading market the world has ever seen under the guise of encouraging brands to be ‘more social’…

OK, OK… maybe that’s a little deep but its interesting to think about…

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