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What are credits used for on Facebook?

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What are facebook credits used for? Yahoo! Answers

How is Facebook handling all of the credits that were used to seed user's accounts? Quora

Vishu Gupta: Can Facebook credits be used to purchase physical goods/gifts? And how can developers get on board? Quora

Can Facebook Credits be used to purchase real world goods (not just virtual goods)? If not, what is the barrier to implementation, and when might this feature be enabled/available? Quora

What does the the implementation of Facebook Credits mean for developers using Virtual Currency Providers such as Tapjoy, Gwallet, etc.? Will they still be allowed to be used after July 1, 2011 without using their direct payment options? Quora