Facebook is shutting its Gift Shop to pave the way for Credits


Facebook is closing its virtual Gift Shop, a cash cow estimated to bring in $35 million a year in transaction fees, in a move that analysts say is intended to transform the site from being a retailer of virtual gifts to a full-fledged online marketplace. The move could ultimately strengthen the site’s “Credits” currency by giving third-party retailers more scope to supply a broader range of virtual products, experts say.  ReadWriteWeb.com

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