Abstract:
A virtual currency system keeps track of virtual credits, which can be owned, transferred, purchased, and sold by participants in a virtual economy. Each virtual credit has an internal value and an external value, which define, respectively, the exchange rates for creating and redeeming the virtual credits. Upon creation of new virtual credits, the internal value for those credits is the rate for which real currency was paid per credit. The external value sets the rate at which the virtual credits can be redeemed for real currency. Each virtual credit may further have a face value, which is an apparent value of the virtual credit within the virtual economy, giving users a baseline impression for valuing the virtual currency. These features of the virtual currency enable a number of useful actions within the virtual economy, including currency seeding, couponing, and chargebacks.
Abstract:
A social networking system provides suggestions of gifts to users for presentation to a target user for a life event of the target user. Merchants provide bids for their products. The social networking system selects products as gift suggestions based on the merchants' bids, recipient's interests, and the candidate user to whom the gift is suggested. The selected gift and any messages relating to the life event are held until a specified time and then delivered to the target user. At the time of delivery, the target user may be provided with alternative products that the target user can select instead of the gift. The social networking system can earn revenue based on promotion of products as gift suggestions, promotion of products as gift alternatives, and for any financial transaction related to the gift.
Abstract:
A social networking system provides suggestions of gifts to users for presentation to a target user for a life event of the target user. Merchants provide bids for their products. The social networking system selects products as gift suggestions based on the merchants' bids, recipient's interests, and the candidate user to whom the gift is suggested. The selected gift and any messages relating to the life event are held until a specified time and then delivered to the target user. At the time of delivery, the target user may be provided with alternative products that the target user can select instead of the gift. The social networking system can earn revenue based on promotion of products as gift suggestions, promotion of products as gift alternatives, and for any financial transaction related to the gift.
Abstract:
A virtual currency system keeps track of virtual credits, which can be owned, transferred, purchased, and sold by participants in a virtual economy. Each virtual credit has an internal value and an external value, which define, respectively, the exchange rates for creating and redeeming the virtual credits. Upon creation of new virtual credits, the internal value for those credits is the rate for which real currency was paid per credit. The external value sets the rate at which the virtual credits can be redeemed for real currency. Each virtual credit may further have a face value, which is an apparent value of the virtual credit within the virtual economy, giving users a baseline impression for valuing the virtual currency. These features of the virtual currency enable a number of useful actions within the virtual economy, including currency seeding, couponing, and chargebacks.