Amazon released a press release Tuesday morning announcing a new virtual currency. Launching in May, Amazon Coins will be, ”another substantial opportunity to drive traffic, downloads and increase monetization even further” for developers, according to the press release.
The virtual currency will work as a new form of payment for purchasing apps, games and in-app items in its Appstore on the Kindle Fire. Amazon has not said how one would go about acquiring Amazon Coins. We expect additional information to be revealed as we get closer to its launch date.
Paul Ryder, Amazon’s Vice President of Apps and Games, announced that the company will be giving away tens of millions of dollars in Amazon Coins. This will help jump start the currency on its launch day. Developers who want to be apart of the launch will need to have their apps submitted and approved in the Appstore by April 25.
The new virtual currency is an awesome idea. Hopefully it will not function like Microsoft Points. The way the press release was worded, it sounds like you’ll be able to acquire Amazon Coins through achievements, playing certain games and etc. We’ll keep everyone updated as more information is revealed.