Facebook Testing Virtual Currency

Facebook is testing out a virtual currency system which is called “credits.” This is also a new revenue model for the social network. The way the testing system works right now is that you can buy 100 credits for $1 and distribute those credits around to friends as a virtual way to give people props. This is supposed to be just as flattering as receiving a paid virtual gift.

Currently there isn’t a way to convert credits back into cash or tangible goods yet. Last year Facebook made a $35 million run rate for their virtual gifts.

[via VentureBeat]

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