New Virtual Currency API Lets Developers Monetize Facebook Apps

by Karilyn Kempton | Startups

Inside Facebook reports that Seattle-based Jambool's  virtual economy platform SocialGold has just enabled a self-serve payment widget for Facebook application developers, with an easily-integrated API. While still in beta, it looks like it could be very interesting for developers.

Jambool branched off from its network of Facebook apps last year in order to create its own online payments platform for a virtual economy. Developers can now use the SocialGold API to include seamless payments and virtual economies in apps and games. Right now only Facebook applications can use the payment platform, but Jambool is hoping to quickly expand. SocialGold allows credit card, debit, PayPal, Amazon and Google payment options, and is quickly rolling out cellular phone payments as well. Jambool developers have also created an analytics dashboard for the SocialGold - it lets developers track which items are performing higest, optimize pricing, and modify demand for virtual products.

Jambool's SocialGold platform has gone live on several Facebook and MySpace applications, and has also integrated with platforms like SuperRewards and SocialCash on other applications.

Co-Founders Vikas Gupta and Reza Hussein, CEO and CTO respectively, both spent years at Amazon. Gupta led the Payments Group, helping build Amazon's incredibly successful transaction processing system.

Seattle, Washington, United States

Jambool was founded with the motivation to make online social collaboration possible, easy and fun. With the popularity of social networks, it is now easier than ever to connect with friends online, and stay connected. Can we tap into these connections for our everyday needs? Do these connections make it easier for me to communicate, share, learn? Jambool is here in the quest to answer this... more

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Karilyn Kempton

Karilyn Kempton

Karilyn is a tech writer, a nerd and a ski bum. She is particularly interested in mobile innovations, and always has her hands in a few projects at a time. She will be living in Revelstoke, BC for the winter, splitting her time between skiing and writing. Send her an email at karilyn.kempton [at], check out her blog at, and stay tuned to for her... more

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