Remember when giving someone a gift on Facebook was like sending them a really intricate emoticon? Yeah, people stopped doing that, and so did Facebook. But now the social network is hoping people will start sending each other actual gifts.
There will be no funeral for Facebook Credits among the companies that ran Credits-based campaigns for advertisers. Even Plink, a loyalty rewards company that initially built its entire business around Credits, is cheering its demise.
Facebook has begun phasing out its Credits virtual currency, which users had purchased from the social network to put toward buying everything from FarmVille’s virtual currency to live concerts.
Mark Zuckerberg has long encouraged other industries to follow the lead of the gaming business, which he believes has been transformed by social media.
Facebook is attributing its recent ad slowdown to a complete lack of mobile ad strategy—but that doesn’t mean the social giant is about to dial up the number of ads on its mobile apps.