Today Target has announced that it will soon be selling Facebook Credits Gift Cards, making it the first high street store to sell the product.
The Facebook Gift cards are expected to be available in values of $15, $25, and $50. This is an important move for the social network’s virtual currency, which it hopes will make up to one-third of Facebook’s revenue in the next year.
While Facebook is free and always will be, Facebook Credits are an easy and convenient way for people to buy digital goods in more than 150 popular social games.
Expanding the Virtual Economy
Facebook has sealed a number of deals with game developers to allow its users to use the virtual currency to buy virtual goods in games. Developers already onboard with the virtual currency include Zynga, Crowdstar, LOLapps, and RockYou. These partnerships are crucial as they provide a seamless experience for users who wish to enhance their gaming experience by purchasing virtual items, such as special weapons, extra lives, or unique avatars.
The introduction of Facebook Credits Gift Cards is expected to significantly boost the virtual economy within Facebook. By making it easier for users to purchase credits, Facebook aims to increase user engagement and spending within its platform. This move is also seen as a strategic effort to diversify Facebook’s revenue streams beyond advertising, which has traditionally been its primary source of income.
Availability and Exclusivity
The new Facebook Credits gift cards will be available from September 5th at Target stores and online from the Target website. The cards will be offered in increments of $15, $25, and $50, providing options for various budgets. Notably, the $15 Facebook Credits gift cards are exclusive to Target, adding an element of exclusivity and potentially driving more foot traffic to Target stores.
This exclusivity deal with Target is a strategic move for both companies. For Target, it means attracting a tech-savvy demographic that may not typically shop at their stores. For Facebook, it ensures a reliable retail partner to help distribute its virtual currency, making it more accessible to a broader audience.
The convenience of purchasing Facebook Credits Gift Cards at a physical retail location cannot be overstated. It allows users who may not have access to online payment methods, such as credit cards or PayPal, to still participate in the virtual economy. This inclusivity is likely to broaden Facebook’s user base and increase overall engagement on the platform.
Moreover, the availability of these gift cards during the holiday season could make them a popular gift option. As more people become aware of the benefits of Facebook Credits, the demand for these gift cards is expected to rise, further solidifying Facebook’s position in the virtual goods market.
The introduction of Facebook Credits Gift Cards at Target marks a significant milestone in the evolution of Facebook’s virtual economy. By making it easier for users to purchase and use Facebook Credits, the social media giant is poised to increase its revenue and user engagement. This move also highlights the growing importance of virtual currencies in the digital age, as more people seek convenient ways to enhance their online experiences.
Via Tech Crunch
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