Could Amazon's New Virtual Currency Rival Bitcoin?Submitted by Jefferson on Wed, 02/13/2013 - 11:46
J.P. Hicks | Blog Tips
Last week Amazon announced a new way for customers to buy and sell goods on its massive online retail platform: a virtual currency called Amazon Coins.
Coming in May, Amazon Coins is a new virtual currency for purchasing apps, games, and in-app items on Kindle Fire.
Amazon Coins is an easy way for Kindle Fire customers to spend money on developers’ apps in the Amazon Appstore, offering app and game developers another substantial opportunity to drive traffic, downloads and increase monetization even further.
Amazon will give customers tens of millions of dollars’ worth of Amazon Coins to use on developers’ apps in the Amazon Appstore—apps and games must be submitted and approved by April 25 to be ready when Amazon Coins arrive in customers’ accounts.
Amazon calls the Coins an important step to create the "most complete end-to-end ecosystem for building, monetizing and marketing their apps and games."