Tuesday, May 14, 2013

Amazon Coins virtual currency arrives in the U.S.; Kindle Fire owners gifted with 500 Coins

The virtual currency that Amazon.com announced in February went live on Monday. Amazon Coins are a new type of virtual currency developed by the Internet retailer, and are only available in the U.S., for now.

As it announced earlier, Amazon.com is banking $5 worth the virtual currency — equivalent to 500 Coins — into all Kindle Fire users’ accounts to use on apps and in-app purchases on its platform. The company said that this is equal to “tens of millions of dollars” worth of Amazon Coins.

Mike George, vice president of apps and games at Amazon announced:
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. 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.
While the freebie only applies to Kindle Fire owners, the discounts do not. Those who buy the Coins in bulk can receive up to a 10 percent discount.

Coins can be purchased at Amazon.com's site. 500 coins cost $4.80, for a 4 percent discount. 5,000 and 10,000 Coin purchases run $45 and $90 respectively, for a 10 percent discount.

The range of purchases is:
  • 500 - $4.80 (4 percent)
  • 1,000 - $9.50 (5 percent)
  • 2,000 - $23 (8 percent)
  • 5,000 - $45 (10 percent)
  • 10,000 - $90 (10 percent)
Amazon.com added that its Appstore developers losing nothing in the translation. They will earn the standard 70 percent revenue share when customers make purchases using Amazon Coins.

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