Facebook Credits consigned to the digital grave

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Social network Facebook has scrapped its virtual currency Facebook Credits.

The system was introduced in early 2011 as a universal currency designed to work across all of the apps and games that feature on the ever-diversifying site.

However, the majority of content holders increasingly chose to ignore the system in favour of selling directly using local real-world currencies.

Those who have excess credits of gift cards will see their value translated into credit in their appropriate national currency.

In a further evolution of its service, developers will from July be able to charge monthly subscriptions fees for their Facebook apps.