So it's a cryptocurrency that's basically the equivalent of a gift card or Chuck-E-Cheese token? How is this different from in-game currency that isn't backed by Crypto?
Yes but it can still be useful. Facebook is basically planning to compete directly with amazon in ecommerce space. In the future, you won't even have to leave facebook to buy something. The merchant will be able to process orders directly through facebook.
Also my guess is informal trading markets will form using this facebook currency. If everyone is using the same form of payment then cross boarder trade becomes much easier. No more foreign exchange hassles. I've already seen it happen with stuff like amazon gift cards but recently amazon removed the ability to check the balance of amazon gift cards. I have already moved away from accepting amazon gift cards for this very reason. If facebook's coin is widely used and can be used to buy a lot of different stuff then I would definitely shift my informal trading to the facebook coin.
Seems that FB is just riding the buzzword wave.