[Editor’s Note: The following is an excerpt from Inside Facebook Gold, our new data and analysis membership service tracking Facebook’s business and growth. Inside Facebook Gold presents weekly in-depth analysis articles exploring the most critical developments impacting the future of the Facebook ecosystem. Click here to learn more.]
“There’s just going to be one currency that people use” on apps, Facebook founder and chief executive Mark Zuckerberg recently said. What he means is that the company’s virtual currency, Credits, will take the place of the lucrative ones that social application developers have already built.
Let’s be clear: Facebook is not currently looking to create a “PayPal killer” in the form of a web-wide payment wallet. What, then, is the significance of Credits to the Facebook economy?
Today, we present our full analysis of Credits, beginning with its history and concluding with a look at where Facebook is with the product today, and where it might go. While we’ll focus on how the changes will impact developers, we’ll also mention potential ramifications for marketers, and for companies active in e-commerce.
>> Read more of this article at Inside Facebook Gold