Facebook Creates Virtual Currency

Facebook is working with MOL Global, a Malaysian online-payment company, to sell “Facebook Credits” through prepaid cards. In essence the partnership makes the purchasing of Facebook Credits a virtual currency. The credits will be used to buy online games and applications on the social-networking site.

These credits will be able to be acquired through MOL’s network of more than 500,000 outlets, such as 7-Eleven stores and cyber cafes. As the virtual currency effort expands it will add value to the Facebook brand’s valuation.