Facebook just launched Facebook Developers, a service that opens up its APIs to the outside world. This is great news, and will no doubt lead to hundreds of Facebook mashups and widgets. You can create applications based around profiles, photos, friends and events. They've also created a sample application called FaceBank, a money-tracking service that helps you keep track of debts and shared expenses with your friends (ironic that this should come right after the news of Facebook credit cards). The API is currently free, and Facebook is limiting requests to 100,000 every 24 hours.
As MySpace makes moves to hinder third party development - including the recent "MySpace update" that broke many Flash widgets like those from RockYou and YouTube, opening up Facebook makes a lot of sense. Other major social sites with open APIs include Tagworld and Blogger.
Of course, we all know that a MySpace API would provide the ultimate opportunity for entrepreneurial developers. This would go way beyond the huge market for MySpace codes and so-called "MySpace layouts" - the two components of the MySpace ecosystem. However, all of MySpace's previous moves suggest this won't be forthcoming.
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