Facebook shutting down its gift shop

Its close to one year when Facebook was rehabbing it’s Gift Shop, and introduced the idea of Facebook Credits. Rather than paying for virtual gifts — like birthday cakes, troll dolls and campaign buttons — to put on their friends’ Facebook pages, users could purchase credits that could be used for that purpose. And then Facebook has announced that they are going to shut down their virtual gift store in August ’2010. Whether this commences more opportunities for third party vendors to sell virtual gifts is yet to be seen.

The only question which comes to most of the people’s mind is why would Facebook close down a venture that sells imaginary, low-to-no overhead items for real-world money? Jared Morgenstern, Facebook’s product manager for games and credits Facebook mentions following in his blog post.

Closing the Gift Shop may disappoint many of the people who have given millions of gifts, but we made the decision after careful thought about where we need to focus our product development efforts. We’ll be able to focus more on improving and enhancing products and features that people use every day, such as Photos, News Feed, Inbox, games, comments, the ‘Like’ button and the Wall

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