Social networking space is increasingly becoming a marketplace of digital goods. Like any other marketplace in the history of human civilization, it needs an exchange medium, aka money, to scale wrt volume and kinds of transactions. Enter Facebook Credits, which are going to become for Facebook what gold was for King Croesus:

The question asked what Facebook’s next big source of revenue would be? Parker, who was the founding President of Facebook, still works closely with the company as he’s a major shareholder. He noted that Facebook PR might not like his answer too much, but he decided to give it anyway: the Credit system.

Parker believes that the Facebook Credit system (that is, its payment platform), or any other things Facebook uses as a “tax and toll” on the Platform, will become a third of Facebook’s income in the next 12 months.

30% is extremely high. If they figure out how to lower the tax, the number of transactions, especially on mobile devices, is going to explode. And if they don't, somebody else will take over. For example, Zong.

tag: money, social, networking, market, control, payload, signal, course