BROWSE

Facebook Credits

Definition

Facebook Credits was a virtual currency that enabled people to purchase items in games and non-gaming applications on the Facebook Platform. One U.S. dollar was the equivalent of 10 Facebook Credits. Facebook Credits were available in 15 currencies including U.S. dollars, pound sterling, euros, and Danish kroner. It was expected that Facebook would eventually expand Credits into a micropayment system open to any Facebook application, whether a game or a media company application. While the Facebook Credits website is still active, Facebook has announced that it is doing away with Facebook Credits in favor of local currency.

What is 'Facebook Credits'

Virtual currency (currency used only on the internet) that can be used to buy goods in online games through the social networking platform, Facebook. Facebook credits can be purchased online using a credit card, PayPal account, mobile phone or other various payment methods, or offline at various retailers. The credits can be used to purchase games or software applications, also referred to as apps.

Explaining 'Facebook Credits'

Facebook credits can be used to buy intangible goods such as virtual gifts, parcels of virtual real estate, virtual weapons, tools and animals in platform-based video games. As of 2011, this virtual money is backed by real currency that's available in 15 different countries.


Further Reading


Some economics of private digital currency
www.nber.org [PDF]
… Examples include Facebook Credits, Microsoft Points, or Amazon Coins … Univer- sity of Toronto, and a research associate of the National Bureau of Economic Research … We thank participants at the NBER Economics of Digitization confer- ence and Warren Weber and Glen Weyl …

“I didn't know her, but…”: parasocial mourning of mediated deaths on Facebook RIP pages“I didn't know her, but…”: parasocial mourning of mediated deaths on Facebook RIP pages
www.tandfonline.com [PDF]
… Examples include Facebook Credits, Microsoft Points, or Amazon Coins … Univer- sity of Toronto, and a research associate of the National Bureau of Economic Research … We thank participants at the NBER Economics of Digitization confer- ence and Warren Weber and Glen Weyl …

Social media, gender and the mediatization of war: exploring the German armed forces' visual representation of the Afghanistan operation on FacebookSocial media, gender and the mediatization of war: exploring the German armed forces' visual representation of the Afghanistan operation on Facebook
www.tandfonline.com [PDF]
… Examples include Facebook Credits, Microsoft Points, or Amazon Coins … Univer- sity of Toronto, and a research associate of the National Bureau of Economic Research … We thank participants at the NBER Economics of Digitization confer- ence and Warren Weber and Glen Weyl …

Banking and Fintech: a challenge or opportunity?Banking and Fintech: a challenge or opportunity?
www.emerald.com [PDF]
… Examples include Facebook Credits, Microsoft Points, or Amazon Coins … Univer- sity of Toronto, and a research associate of the National Bureau of Economic Research … We thank participants at the NBER Economics of Digitization confer- ence and Warren Weber and Glen Weyl …

Social cloud: Cloud computing in social networksSocial cloud: Cloud computing in social networks
ieeexplore.ieee.org [PDF]
… Examples include Facebook Credits, Microsoft Points, or Amazon Coins … Univer- sity of Toronto, and a research associate of the National Bureau of Economic Research … We thank participants at the NBER Economics of Digitization confer- ence and Warren Weber and Glen Weyl …

Interactants and activities on Facebook, Instagram, and Twitter: Associations between social media use and social adjustment to collegeInteractants and activities on Facebook, Instagram, and Twitter: Associations between social media use and social adjustment to college
www.tandfonline.com [PDF]
… Examples include Facebook Credits, Microsoft Points, or Amazon Coins … Univer- sity of Toronto, and a research associate of the National Bureau of Economic Research … We thank participants at the NBER Economics of Digitization confer- ence and Warren Weber and Glen Weyl …



Q&A About Facebook Credits


How do you use Facebook credits to buy goods in online games?

You can use them to purchase games or software applications, also referred to as apps.

Where can you buy Facebook credits?

You can purchase them online using a credit card, PayPal account, mobile phone or other various payment methods.

Can you use Facebook credits to buy intangible goods such as virtual gifts, parcels of virtual real estate and tools and animals in platform-based video games?

Yes, you can.

What is the name of Facebook Credits?

Facebook Credits.

Are there different types of currency used on the internet?

Yes, there are many types of currencies used on the internet.