virtual goods

Ever since Facebook first rolled out its own virtual currency, developers have wondered if, when, and how the company would start encouraging the use of Credits across its enormous platform.

The answer is becoming clear, and the time is now. Facebook wants developers to start using Credits in a big way as it works to build a system similar to Apple’s iTunes, where users make lots of small purchases with a credit card kept on file.

Developers are taking the cue. CrowdStar, one of the most successful social gaming companies, just announced it will use Credits as its exclusive in-game currency for at least the next five years. Read more

Facebook is about to take over the internet with its Open Graph strategy, if you believe some of the reports from its f8 developer conference on Wednesday.

Besides leading the creation of a more people-centric web, it could also end up having the dominant virtual currency, according to an early adopter of Facebook Credits. Read more

Mark Kingdon avatar, photo by Ina CentaurMark Kingdon, chief executive of Linden Lab, has announced two acquisitions that should further his strategy of making the Second Life virtual world more user-friendly, while cashing in on the booming virtual goods market.

The San Francisco-based company said it had bought for undisclosed sums the Xstreet SL and OnRez website-based marketplaces for virtual goods. Read more