I came across the idea of using function points as a metric for the velocity of a Scrum team. I saw it in a team and I found two articles mentioning a link between estimates and function points (http://www.ifpug.org/ISMA5-2010/Amol%20Keote-FunctionPointsAndAgile-Hand-in-Hand.pdf and http://www.cosmicon.com/portal/public/FromStoryPointsToCOSMIC.pdf).
I am not sure how this can work, because if I understand it correctly, function points measure the value of a feature (e.g. from the users perspective) whereas the velocity measures the effort of finished features. And in my view there's no direct connection between these two.
To put it another way: If you have (let's say) a stable Scrum Team which works 2 week Sprints, the number of functions points they deliver per Sprint should vary (possible wildly), which would render a velocity based on function points quite meaningless (e.g. for planning purposes)...
Am I missing something here?