Ning, the social platform that allows users to create their own social networks introduced a virtual gifts feature today for its 1.6 million networks and 36 million registered users.

Ning Virtual Gifts offers a built-in revenue-generating feature for network creators, allowing them to create custom gifts and stores related to the topic of their network.

At launch Ning is offering each user 100 credits in their gift store account, giving them the chance to send at least one virtual gift to a fellow member. Virtual gifts for all Ning Networks will be priced at 75 credits or $1.50 per gift.

"Ning Virtual Gifts brings members new ways to express themselves around the things they care about most," said Jason Rosenthal, senior vice president of Business Operations at Ning.

"Our virtual gifts product is unique in that it can be highly relevant to the activity of each Ning Network - further empowering our Network Creators to capture their members' imagination.  This is a first step in Ning building upon the inherent context in each Ning Network to drive new revenue opportunities for our Network Creators and Ning." 

Ning Network Creators will have the ability to create custom virtual gifts, select their unique gift store inventory, and participate in a revenue share on the sale of virtual gifts. Transactions will be processed directly to Ning Network Creators via PayPal. Revenue will be split equally between the network creator and Ning after PayPal's transaction fees.