Amazon has today launched a new virtual currency in the form of Amazon Coins which is now available for Kindle Fire customers.
To launch their new Amazon Coins virtual currency, Amazon has awarded every Kindle Fire owner in the U.S. with $5 worth of free Amazon Coins deposited directly into their Amazon account.
Benefits for Kindle Fire Users
“Today we are giving Kindle Fire owners $5 worth of Coins to spend on new apps and games, or to purchase in-app items, such as recipes in iCookbook, song collections in SongPop or mighty falcon bundles in Angry Birds Star Wars. And with discounts of up to 10% when you buy Coins, this is a great way for customers to save money when they buy apps, games and in-app items,” said Mike George, Vice President of Apps and Games at Amazon. “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 Coins offer a new way for Kindle Fire users to engage with their devices. By providing $5 worth of free Coins, Amazon is encouraging users to explore the Amazon Appstore and discover new apps and games. This initiative not only benefits users by giving them free content but also helps developers by driving more traffic to their apps.
Discounts and Developer Benefits
Amazon says that it will be offering discounts of 10% to those users who buy Coins in bulk. This means that users can save money by purchasing larger quantities of Coins at once, making it more economical to buy apps, games, and in-app items. For example, if a user buys 1,000 Coins, they might receive a discount that effectively gives them 1,100 Coins for the same price, providing extra value for their money.
Developers will get a standard 70% revenue share on all coin spend. This revenue model is consistent with other app stores, ensuring that developers are fairly compensated for their work. By using Amazon Coins, developers can potentially see an increase in revenue as users are more likely to spend Coins they received for free or at a discount.
Amazon Coins can be used for a variety of purchases within the Amazon ecosystem. Users can buy new apps, games, and even in-app items. For instance, a user might use their Coins to purchase additional levels in a game, new characters, or special items that enhance their gaming experience. This flexibility makes Amazon Coins a versatile currency for digital content.
Moreover, Amazon plans to expand the use of Coins beyond just apps and games. In the future, users might be able to use Coins for other types of digital content, such as eBooks, music, or even streaming services. This expansion would make Amazon Coins even more valuable to users, providing a unified currency for all their digital purchases.
Amazon’s introduction of Coins is part of a broader trend towards virtual currencies in the digital marketplace. Other companies, such as Apple and Google, have also explored similar concepts with their own app stores. Virtual currencies offer a convenient way for users to make purchases without needing to enter payment information for every transaction. They also provide opportunities for discounts and promotions, making digital content more accessible and affordable.
The launch of Amazon Coins represents a significant step forward for Amazon and its Kindle Fire ecosystem. By providing free Coins to users and offering discounts for bulk purchases, Amazon is encouraging more engagement with its Appstore. This initiative benefits both users and developers, creating a win-win situation that could drive growth and innovation in the digital marketplace.
Source: Tech Crunch
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