Could Facebook Credits Become Real Currency?
PSFK examines whether Facebook credits could become a real-world currency.
The growing obsession with games on Facebook is no secret. Whether it's Jetman, Family Feud or Bejeweled, more and more people are losing hours of time racking up points in a desperate attempt to get the highest score of the week. All of this effort just to be awarded Facebook credits, the magical online currency whose power only extends as far as allowing us to 'buy' entry to new levels of our favourite games or silly virtual prizes. But do these invisible dollars have the potential to be more? PSFK thought so, so they went to their experts to find if the possibility was realistic.
Giuseppe Riva explains that for digital currency, the factors of exclusivity and exchange apply. In order for Facebook credits to become a real-world currency, we would have to be unable to use our current money to purchase features of a digital experience. The credits would also have to have an exchange value with other currencies throughout the world with a verified transfer system outside of Facebook.
Expert Jason Madhosingh had doubts about using Facebook credits as real currency as well, since virtual goods do not have as much real-world value as tangible ones. He said consumers are less likely to be reeled in to use credits as cash unless the revenue share is favourable.
So for now, it doesn't seem like Facebook credits are the currency of the future. I guess we will just have to continue using our precious prizes to unlock episodes of Family Feud and buy virtual cows for Farmville.
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