Credits continue to extend beyond their original turf with help from third parties. Today Shoebuy.com became the first retailer to offer them on a website outside of Facebook through an incentive program using Ifeelgoods, Inc. technology.
With Ifeelgoods technology, any purchase on Shoebuy.com earns a reward of 50 Credits. Redeem them on Facebook or donate the Credits toward cancer research if you don’t feel like spending the digital coinage on games.
A close look at the terms and conditions reveals this interesting tidbit: If you return or cancel your Shoebuy.com purchase, you don’t get a refund for the Facebook Credits. The $5 gets subtracted from the amount that gets credited back to you. (I hope this means you still get to spend the Credits!)
The terms and conditions specify that you can only redeem the Credits through the IFeelgood application, and only for use on Facebook. Apparently there’s no way to transfer the Credits to another Facebook user. And while the refund policy implies a value of $5 to the 50 credits, Ifeelgoods and Shoebuy.com state that the incentive offer itself has no monetary value. Plus you need to redeem the Credits within five days of making the Shoebuy.com purchase.
I find these rules fascinating because my first thought upon seeing the promotion was to wonder whether I could buy shoes for myself and gift the Credits to someone with a stronger interest in social games, and do so a few weeks from now. Maybe that capability will become available down the line.
This Shoebuy and Ifeelgoods offering is yet another step in a larger trend. Social games sites are using Piggyback technology to accept Facbook Credits, plus retailers are selling the credits on stored-value cards.
Readers, what do you see as the long-term trajectory of Facebook Credits? Will they become a global currency across the Internet and offline?