Facebook announced that Facebook credit gift cards would be available at stores. You will be able to use real money to buy virtual money at a Target store near you. Obviously, this means that parents and friends can buy Facebook gift cards for their loved ones to splurge on virtual goods on Facebook. I am assuming that many people will give Facebook gift cards during the upcoming holiday season. This is a clear indication that the virtual goods economy is taking hold. The virtual economy has been growing at a phenomenal rate over the last two years, especially since the growth of social gaming on Facebook, and we can expect to see this growth to continue as location based social gaming takes off. It is interesting to see the virtual economy grow so big so fast even though nothing tangible is ever exchanged. But it points to a shift where our offline identity is increasingly intertwined with our online activities. Growing numbers of people are ready to pay for virtual items because we are spending more and more of our time online. I even have heard that one commentator opine that this phenomenon can actually bring families together by spending “family time” gaming together online! Wow, the computer has really changed the way we live.
While a big fan of Facebook, I tend to stay away from FarmVille and other integrated games/apps. But seeing how many FB "friends" are involved, I can definitely see the potential market. Absolutely amazing.
ReplyDeleteSeveral years ago, I remember reading about a virtual economy emerging on Second Life - http://secondlife.com . What ever happened to that site, anyway. Their still around; but does anyone go there anymore?