Amazon rolled out its new form of currency for Kindle Fire users Monday called Amazon Coins, according to PCMag.com.
The “coins” are available for a discount on the Amazon website. Currently, the company is offering 500 coins—which equals $5—for $4.80. From there the price goes up in increments. $9.50 for 1,000 coins, $23 for 2,500 coins, $45 for 5,000 coins or $90 for 10,000 coins. Also, current Kindle Fire owners will be granted 500 coins.
When browsers are ready to checkout, they will have a choice between the coins or the traditional use of a credit card.
Amazon announced the new currency in February.
Developers who use the Amazon platform will see many new opportunities and still see the standard 70 percent revenue when their apps are purchased with Amazon coins.
"Developers continue to report higher conversion rates on Amazon compared to other platforms," said Paul Ryder, vice president of apps and games for Amazon. "Now we have another new way to help developers reach even more of our millions of customers. Amazon Coins gives customers an easy way to spend money on developers' apps on Kindle Fire in the Amazon Appstore."
Keith Shepherd, CEO of Imangi Studios, the maker of the popular game “Temple Run”, said his company is one of the many developers that have ecxperienced success on the Amazon platform.
"We've already found that the average revenue per user on Amazon is higher than other Android platforms," said Sheperd. “We're very excited about the monetization opportunity with Amazon's new virtual currency."
The new currency comes at a time when Amazon is making moves to grow as a company and obtain a wider influence. The company has recently brought its cloud service to iOS Devices, partnered with PlayScape to offer more games on its Kindles, and is reportedly working on a new 3-D smartphone.
