Google Unveils the Chrome Web Store; Launching in October
Google unveiled the Chrome Web Store at GDC Europe on August 16. Google developer advocates, Mark DeLoura and Michael Mahernoff, revealed that the Google Chrome Web Store, an online application store which will allow you to purchase and use Chrome Web applications will be launched in October.

The payments will be handled by Google Checkout, and here’s the important bit for developers: Google will take only a 5% processing cut, much less compared to the 30% cut which is the norm in mobile application stores. It will also support in app transactions by the first half of 2011.
It will support Flash as well as HTML5 games. Google also showcased a lot of games based on Flash, HTML5 and Javascript in the session. Using WebGL in HTML5, developers can create graphically intensive games which run directly in the browser.

The Chrome Web Store may help Google win a nice share of the social/web gaming pie. The lower cut is probably directed at luring Facebook game developers to create applications and games for the Chrome Web Store.
Source: 1UP – Chrome Web Store
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Interesting move by Google. You’d think they would’ve waited and had them develop apps for Google’s potential new social networking site. As for the lower processing cut, I wouldn’t expect that to last. Google is known for altering terms and pricing once they have enough users.