RealGifts Targets Facebook Monetization

San Diego-based RealGifts has a new take on earning dollars from Facebook applications: allowing users to purchase real, tangible items from the popular social networking site. According to RealGifts, the firm has just rolled out a new application programming interface (API) which allows other Facebook Application developers to integrate its services. The API is an extension of the firm's own Facebook application, which allows users to select and buy real gifts which show up both as "virtual" gifts on Facebook as well as real items delivered to friends. RealGifts is one of nearly 600 startups competing for funding from Facebook's fbFund, the $10M seed fund run by the Founders Fund and Accel Partners.