Amazon Has Plans For a New Virtual Currency Called Amazon Coins

Amazon has introduced a new virtual currency for buying apps, games and for making in-app purchases on the Kindle Fire called Amazon Coins.

Here is more from the press release: “When Amazon Coins launches in the U.S. this May,Amazon will give customers tens of millions of dollars’ worth of free Amazon Coins to spend on developers’ apps on Kindle Fire in the Amazon Appstore. Amazon will also make it quick and easy for customers to buy additional Amazon Coins using their Amazon accounts.”

Amazon is trying to get app developers on board with these new coins by encouraging them to submit apps to the Amazon App Store by April 25th, so that their apps are ready when these coins go live in May. Developers who receive payment with these new coins will earn their standard 70 percent revenue share. Amazon’s App Store had more than 50,000 apps for sale as of last fall. In comparison, Apple’s App Store has more than 800,000 apps and Google Play has more than 700,000.

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