Virtual gifting worked for Facebook. So hi5 is trying its hand at the virtual economy as well. Today, the hi5 social network is announcing a new gifting application called hi5 Gifts. Similar to a recent application launched by Facebook, hi5 Gifts revolves around holiday-related virtual presents. With an initial offering of 36 virtual gifts, each present will represent a particular world custom or culture. These gifts will be based on holiday traditions and other customs, such as a virtual “Rosca,” a cake that Mexicans eat on January 6th to celebrate Three Kings’ Day.
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