Acebucks: Facebook Virtual Currency

For Facebook regulars, you probably already knew about Acebucks virtual currency. They now have over 100,000 users. After I read Acebucks had just received $1.5 million in additional financing, I jumped out of bed and added their application to my Facebook account!

Acebucks developer Aryeh Goldsmith partnered with Michael Lazerow and formed Buddy Media. The recent financing came from Howard Lindzon’s hedge fund, Peter Thiel (PayPal founder), Roger Ehrenberg and Mark Pinkus

The group aims to make Acebucks the primary virtual currency on Facebook. Accordingly, Acebucks will soon launch an API which will enable developers to integrate the virtual currency into their own applications.

How Can You Earn Acebucks?

Facebook users earn Acebucks for surveys, playing games, referring friends, adding applications or opening up a virtual store. I just installed the Mobsters application and earned $50 Acebucks. Users can spend their virtual money by shopping online in the Acebucks Mall.

Are Acebucks worth big dollars in the ‘real world’? I’ll let you be the judge. This is from their User Agreement and Terms:

AceBucks are valueless
Regardless of whether perceived or implied it is hereby expressed that AceBucks have no legitimate value outside this system.

AceBucks are uninsured
We pledge to maintain the integrity of this system, however, the balances in the accounts are completely uninsured at this time. In the event of data-loss or corruption every attempt will be made to reconcile all accounts from timely backups, however, we make no guarantee of the stability of the accounts during this initial stage.

This new virtual currency sounds like great fun and its a sure way to attract more Facebook users and interest.  However, I’m not so sure that Acebucks will even make it to the level of Linden Dollars anytime soon. Oh well, I’ve now got the plug-in running and I see they have given me $125 bucks with my new account. I think I’ll waddle over the the Acebucks Mall and see where I can spend my new loot. (I Wonder if the mall has an Orange Julius shop?)

I’d love to hear what you think about this virtual product so give it a try and leave us your impressions. (that’s my Acebucks referral link)