Wednesday, September 22, 2010

FaceBook Credits Will Be Huge


Facebook, which more than any other company aspires to usurp Google’s dominant place on the Internet, hopes to avoid that problem. Already on the path to becoming an advertising powerhouse, the social networking company is laying the groundwork for its second act: a virtual currency system that some day could turn into a multibillion-dollar business. Facebook began testing its virtual currency, called Credits, more than a year ago with some popular games on Facebook. This month, Credits passed a milestone when it became the exclusive payment method for most of the games created by Zynga, the No. 1 developer of Facebook applications. http://www.nytimes.com/2010/09/23/technology/23facebook.html?hpw

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