Exploring the Future of Money, Banking and Philanthropy

NEW YORK CNNMoney — With more than 500 million active users, the population of Facebook exceeds that of many countries. And like any empire, Facebook has its own currency — one that got a big boost with this weeks launch of Facebook Deals.Facebooks new daily deals offering, available in five cities now with plans to expand to more, puts it into direct competition with Groupon and its army of imitators. Facebook members will get deal offers right in their news feed — and if one catches their eye, they can pay for it with a credit card, PayPal or Facebook Credits.013EmailPrintIts the first time Facebooks virtual currency can be used to buy real-world goods.”Those folks now have the money to buy a massage or a meal,” says Dave Martin, senior vice president of media at online marketing agency Ignited. “Beyond the simple idea of renting content, now youre actually getting durable goods.”

via Facebook Credits $600 million virtual economy – Apr. 28, 2011.

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