Today, Amazon announced a new virtual currency it’s launching on its Kindle Fire line of devices. The new virtual currency will give Kindle Fire users an alternative method for purchasing content like movies, music, and apps.
Unlike the confusing Microsoft Points system, Amazon Coins will correlate with pennies. 100 Amazon Coins are equivalent to $1. Those who buy Amazon Coins in bulk will discounts of up to 10%.
While Amazon Coins are only available on the Kindle Fire for now, the virtually currency could land itself on Android and iOS in the future. Mike George, Amazon’s Vice President of Apps, said, “We will continue to add more ways to earn and spend Coins on a wider range of content and activities—today is Day One for Coins.”
Amazon developers will continue to earn their standard 70% revenue split with Amazon, even with Coins. Amazon states, “No Coins-specific changes are required for developers with apps and games currently in the Amazon Appstore.”
To celebrate the launch of Amazon Coins, the company is giving every Kindle Fire owner 500 Amazon Coins ($5) to purchase content with.