ClickandBuy scores first virtual currency deal with facebook games developer

Source: ClickandBuy

Facebook game developer Platogo has today announced that it has begun using Buxter as a way for its players to purchase virtual currency in its games. This is the first commercial use of the Buxter application.

There has long been discussion about how developers of games and applications for social networking sites such as Facebook could start to 'monetise' their creations. Platogo believes that the Buxter app is the answer.

"Research from the Inside Virtual Goods Report shows that the market for games and gifts within social networks will be worth $835m by the end of this year. For any business operating within Facebook this is a potentially huge market. The problem until now has been how to make it easy for users to make payments - to buy virtual goods within games, for example. Buxter has solved that problem in a stroke," said Jakob Sommerhuber, CEO, Platogo.

Buxter, launched earlier in 2010 by payments company ClickandBuy, is the first application on Facebook that allows users to send and request real currency. Buxter users can send or receive amounts of up to EURO 50, for example to contribute towards a friend's birthday present, or to re-pay a share of a restaurant bill.

"This is a fascinating piece of innovation by Platogo. They were quick to spot that Buxter is just as suited for use by businesses within Facebook that use micro-payments as it is for Facebook users," commented Charles Fraenkl, CEO, ClickandBuy. "Platogo's imagination looks set to have opened up a way for thousands of Facebook businesses to begin generating revenues from apps that were previously free to use."

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