Source: SMI

Summary: The New York Times, quoting numbers from the third party analysts at Inside Network, reports that the market for social gaming and buying virtual goods on Facebook could top $835 million this year.

Well, the virtual currency has a way to go before it makes much of an impression on PayPal. The online payment system which eases eBay purchases has been around since 1998 and now has 87 million active accounts. The value of those accounts’ transactions? In Q2 alone the total was $21 billion - a rise of 28% on last year.

My comments: I'm interested to see what Facebook does about chargebacks on their virtual currency. If sellers aren't penalized (because really chargebacks shouldn't be our problem, we have enough problems dealing with other kinds of buyer fraud already) then this could be something. With a good rep, you could ask the buyer to pay you with facebook credits and lead to a safer transaction for you. PayPal dealing with $21 billion and they recently raised seller chargeback fees and refund fees. Come on man.

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