Facebook Credits becomes a required currency for all developers on the social network starting July 1. That deadline also begins the mandatory 30 percent revenue share with the social network,.
Already, roughly 70 percent of the digital goods transactions on Facebook have involved Credits, with more than 350 applications from 150 developers using the digital currency. This means that revenues from payments will rise 42 percent by the July 1 deadline.
The social network is not requiring developers to use Credits exclusively, but Facebook’s blog post about the July 1 changeover promises incentives for those that make it exclusive. These advantages include more prominent placement on the games console, premium ad targeting and access to more product placement opportunities.
The social network has said that inhouse programmers will help third-party developers migrate to Credits over the next five months, but once everyone is live with the currency, it’s possible that there may be preferential technology support given to those that make Facebook’s currency the only one accepted in the game.
The bigger picture surrounding the July 1 deadline is that now the site can deliver on expectations of greater revenues. Once these 30 percent of Facebook digital goods transactions start using Credits and sharing 30 percent of the revenues, cashflow from the digital currency would rise at least 42 percent.
The increased revenues from Credits would keep Facebook from losing any momentum in growth even if the site reaches a plateau in the number of users due to barriers in certain overseas markets like China.
What sort of social economy do you envision for Facebook once the deadline kicks in?