Facebook will be phasing out its virtual gift shop and closing it on August 1, the company announced in a blog post Thursday night.
So what does this mean? The Facebook Blog provides more details. "The gifts you've already received on your Wall will remain visible, and you still will be able to view your sent and received gifts on your gifts page."
"People also can continue to use the many third-party applications on Facebook for giving and receiving gifts, such as Birthday Cards, Hallmark Social Calendar, Pieces of Flair and someecards."
Facebook's virtual gift shop has generated around $100 since it launch it 2007. Facebook will now focus on its Credits business.
"Out of the Gift Shop's 'gift credits' came the virtual currency, Facebook Credits, that now makes it easier for people to buy premium items across the many games and applications on Facebook," the company said.