Update: No special monetization plan for Facebook Connect, exec clarifies.

Marketers and other companies will be encouraged to use Facebook Ads to quicken the integration of Facebook data into their sites through the new data portability project.

This post was updated at 1:21 p.m. PDT with comment from Tim Kendall.

NEW YORK--It would've been cool: Facebook director of monetization Tim Kendall hinted Monday that the company would offer "a product" to help third-party companies "accelerate" participation in its developer platform when asked whether the company had any plans to start directly monetizing the technology.

Since no further detail was provided, and Kendall had said that this would deal with "whether an application is within Facebook or outside of Facebook," this reporter inferred that he'd meant something involving development assistance for Facebook Connect, its upcoming data portability project. With Facebook Connect, third-party sites will be able to incorporate Facebook identity credentials into their own services.

But the "product" will just involve encouraging them to promote user participation through Facebook Ads, Kendall confirmed to CNET News.com later. He wasn't specifically referring to Facebook Connect. That's something that Facebook has offered since November, and it currently encourages developers to purchase ads to spread the word about marketing campaigns on Facebook's developer platform. Up until this point, the social network hasn't directly profited from its developer platform, and making part of the code open source isn't going to rake in the cash either.

Kendall was speaking on a panel at the Interactive Advertising Bureau's IAB Leadership Forum on User-Generated Content & Social Media here.

Facebook, like most other social-media companies, has not had particularly stellar revenues. The IAB conference on Monday was designed to address that issue, and possible solutions, for New York's ad industry.

Some companies have already had successful advertising campaigns by using Facebook's developer platform for free, Kendall said. One of them is FedEx, he said, which allows users to package up a selection of virtual "gifts" or any other kind of digital attachment into a "virtual FedEx package" and share it with their friends on the social network.

"It's gimmicky, but it's a great example of leveraging the hooks that Facebook provides, creating social context," Kendall explained, "and FedEx does a great job of subtly incorporating their brand into the whole experience."

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