Amazon launches its virtual currency, with $ 5 worth free to every Kindle Fire user - GigaOM

17 hours ago May. 13, 2013 – 6:51 AM PDT

Summary:

Amazon’s virtual currency, Amazon Coins, Launched Monday. It can be used to buy apps and games and make in-app purchases on the Kindle Fire and in Amazon’s app store.

Amazon rolled out Amazon Coins, its own virtual currency, on Monday. Amazon Coins can be used to purchase “apps, games and in-app items in the Amazon Appstore and on the Kindle Fire,” and each U.S. Kindle Fire user gets $ 5 worth (or 500 coins) free.

“We will continue add two more ways to Earn and spend Coins on a wider range of content and activities,” Mike George, Amazon’s VP of apps and games, said in a statement. “Today is Day One of Coins.”

Users can buy 100 coins for $ 1, with discounts up 2:10 percent for larger purchases. Developers get their standard 70 percent revenue share for purchases made with Amazon Coins.

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