OMG Facebook

By Tim Ballingall

Seven years, one award-winning film, $800 million, and 600 million users ago, Harvard sophomore Mark Zuckerberg founded Thefacebook. Because the history of its inception and subsequent legal drama has been the talk of the town for years, it seems refreshing to look to the uncertain future of this digital colossus.

$1 US = 10 FB Credits

On Jan. 24, 2011, Facebook announced the July 1 deadline for 3rd party developers to totally make the switch to the virtual currency, Facebook Credits. Credits has been in testing since May 2009, and some developers have partially implemented the virtual currency already. The advantage of this is standardization. The disadvantage, to developers, is a 30% revenue cut.

Facebook is not requiring developers to make Credits the sole currency on their games. But for those who do, there are incentives. “These developers will receive early access to product features and premium promotion on Facebook, including featured placement on the Games Dashboard, premium targeting for ads, and access to new co-promotion opportunities,” writes Deborah Liu, a lead platform marketing manager at Facebook.

Mark Brown of Wired UK points out the ulterior motive: “Facebook gets a 30 percent cut on Credit purchases. That’s the same revenue share Apple holds on in-app purchases on iPhone, but much more than the one to five percent cut PayPal takes from small purchases.”

This virtual currency is not without its problems, however. Just begin typing in the Youtube search bar, “Facebook Credits,” and you’ll see that “hack,” “for free,” and “cheat” are some popular suggestions.

Open Graph = The Future

After you click “Leave a Comment,” at the top of this post, you’ll see a “like” button. That meta tag would not be there if it weren’t for the Open Graph protocol introduced at last April’s f8 conference. (And since this is a post partially about metadata, that meta tag is, like, a meta meta tag.)

Other sites you may find the “like” button include CNN, NYTimes, IMDb, Pandora, most amateur blogs, and the like.

Within a week of its launch, the “like” button appeared on as many as 50,000 websites.

Open Graph utilizes personal information you deem public and communicates it to other websites. At the f8 conference, Zuckerberg said this:

“Yelp is mapping out the part of the graph that relates to small businesses. Pandora is mapping out the part of the graph that relates to music. … “If we can take these separate maps of the graph and pull them all together, then we can create a Web that’s smarter, more social, more personalized, and more semantically aware.”

Basically a user “likes” something—a news story, a video, a photo, a restaurant—which tells Facebook that this particular site was of interest to someone, and that site can be ranked among the myriad other sites getting liked by other users. With 50,000 sites using “like” buttons within a week of its launch, that’s a lot of information coming in. So what’s there to do with all the semantic data amassed by “like” buttons?

Launch a semantic search engine, of course. Facebook, with its massive data-gathering capability, seems like the only contender to Google, especially with controversy surrounding Bing earlier this week.

But would a search engine based on what people “like” be reliable? Would it attract advertising revenue? Greg Sterling of searchengineland.com and Christopher Dawson of ZDNet.com seem to think not. Both, however, do think this will be a good kick in the pants for Google.

Big Picture

Rick Bookstaber is the Senior Policy Adviser at the U.S. Securities and Exchange Commission. He received a PhD in economics from MIT. In 2007 he authored A Demon of Our Own Design: Markets, Hedge Funds, and the Perils of Financial Innovation. Last month he posted on his blog an article regarding the future of Facebook. It’s very theoretical and high-brow but a good read nonetheless.

Go to the Rohrbach Library’s Articles and Databases. Search IEEE Computer Society in Databases. This is a brand-spanking new database available to KU students and faculty. It houses a plethora of articles on Facebook.

What do you think of Facebook Credits? Privacy issues with Open Graph? The future of humanity in the age of Facebook?

7 Responses to “OMG Facebook”


  1. 1 seo consultant birmingham February 8, 2013 at 9:32 pm

    After exploring a handful of the blog articles on your site, I
    really appreciate your way of blogging. I saved as a
    favorite it to my bookmark site list and will be checking back soon.

    Please visit my web site as well and tell me what you
    think.

  2. 2 nyc hobbies April 8, 2013 at 7:51 am

    Excellent, what a blog it is! This web site gives helpful
    data to us, keep it up.

  3. 3 seo April 10, 2013 at 4:52 am

    We are a group of volunteers and starting
    a new scheme in our community. Your site provided us with valuable info to work on.
    You have done a formidable job and our whole
    community will be grateful to you.

  4. 4 helicopters April 12, 2013 at 3:03 pm

    I’m not sure where you’re getting your information, but great topic.
    I needs to spend some time learning more or understanding more.
    Thanks for excellent information I was looking
    for this information for my mission.

  5. 5 fresh vending May 31, 2013 at 3:50 am

    I think the admin of this website is truly working hard in support of his site,
    for the reason that here every stuff is quality based material.

  6. 6 Loren July 31, 2014 at 12:50 am

    What’s up to every body, it’s my first pay a visit of this website; this blog contains amazing and genuinely good stuff for visitors.

  7. 7 Csgo jackpot site November 27, 2015 at 8:35 pm

    At seven kills, they take a bit of effort to get, but against most unprepared teams they can get
    a number of kills. Despite its real-world setting, Medal of Honor multiplayer gameplay may well initially take people by surprise – especially if you are coming to it off the back of
    previous DICE titles like Battlefield: Bad Company
    2. For any strike to be effective in the game, you must
    execute the appropriate strike at the appropriate range.


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s




Enter your email address to follow this blog and receive notifications of new posts by email.

Join 96 other followers

Rohrbach Library

The Elusive Sea Cow Tweets

Rohrbach Library Tweets

Archives

Categories

Blog Stats

  • 1,494,851 hits

Affiliates



Kutztown University is part of the Pennsylvania State System of Higher Education.

%d bloggers like this: