Amazon unveils new virtual coins for Kindle Fire users

Come May, Kindle Fire users will have a lot of free virtual coins to spend on their favorite applications.

Announced today, Amazon coins is a new type of virtual currency developed by the retail giant. Users will be able to enter the new coins to buy Kindle Fire games, applications and in-app Amazon Appstore articles.

To kick off the new currency in May, Amazon said it will offer buyers tens of millions of dollars of coins to spend on Amazon Free Kindle Fire applications. The company will also allow customers to buy more parts in their accounts directly from Amazon.

Amazon sees money as a boon for developers, because it offers users an easy way to spend money on applications and in-app purchases. Developers will also get their standard 70 percent revenue cut.

Application developers who already Kindle Fire do not need to do anything to get parts from Amazon, the company said. But those who seek to submit their applications must act quickly. Applications Only applications submitted and approved by April 25 will be ready when the Kindle Fire users are showered with their free coins to spend online.

"The developers continue to report the highest conversion rate on Amazon compared to other platforms," Paul Ryder, vice president of Amazon applications and games, said in a statement. "Now we have another new way to help developers reach more of our millions of customers."
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