Amazon Introduces ‘Coins,’ a Virtual Money System

AmazonCome May, Kindle Fires users will have lots of free virtual coins to spend on their favorite apps. Announced on Tuesday, Amazon Coins is a new type of virtual currency developed by the retail giant. Users will be able to grab the new coins to purchase Kindle Fire games, apps, and in-app items from the Amazon Appstore. To kick off the new currency in May, Amazon said it will offer shoppers tens of millions of dollars of free Amazon Coins to spend on Kindle Fire apps. The company will also let customers buy more coins directly through their Amazon accounts. Amazon sees the currency as a boon for developers, as it will offer users an easy way to spend money on apps and in-app purchases. Developers will also get their standard 70 percent revenue cut.

Read the full story at CNET.

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Author:

Shelly Palmer

Shelly Palmer is Managing Director, Digital Media Group at Landmark Ventures/ShellyPalmer a technology focused Investment Banking & Advisory practice specializing in M&A, Financings, Strategic Partnerships and Innovation Access. He is Fox 5 New York's On-air Tech Expert and well known for his work on Fox Television's Shelly Palmer Digital Living as well as his daily radio report on United Stations Radio Networks. For more information, visit shellypalmer.com.

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