Facebook Credits

Description

Joel Dietz:

"Global social network that leverages adoption in that area to provide platform for game developers. Users buy credits from Facebook in quantity and then are able to spend them in game. Profit driven by addictive social games, in which status updates are used to promote addictive behaviours and an instinctive drive to competition within an alternative world. Support for many different currencies, but drift away from offering own credit with different exchange rates, and instead leaving value in local currencies. This is speculatively because the platform was being used by currency speculators. Profit driven by the fact that users buy credits at $0.10, but can only reclaim them at $0.07, meaning a guaranteed 30% profit per credit purchase. Currently $2.8 Billion in circulation."