Friendster opens a virtual market, like everyone else

Where can you not buy a virtual teddy bear these days? Now Friendster’s hawking pixels, too. Friendster says selling virtual gifts, goods and games is a “proven” revenue model in Asia, where 90% of their audience lives. For China’s part, online gaming revenue grew nearly 40% in the second quarter of this year to $906 million, according to CNET. Recession? What recession?

If you think your special brand of virtual ice cream, squirrel, martini, or teddy bear topped with shiny crown and clutching bright red balloons — how’s that for value added? — would tempt users to open their “Friendster Wallets,” hang tight for their third party payments API.