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Amazon Launches Virtual Currency With Big Giveaway

Facebook tried it unsuccessfully with Facebook Credits, but plenty of online games like Farmville make big bucks with virtual currency. Now Amazon is getting into the act with Amazon Coins.

These credits are exclusively for Kindle Fire customers to spend in developers’ apps in the Amazon Appstore. The company says it will give tens of millions of dollars of Amazon Coins to customers to get them started. Since Amazon has a whole lot of Kindle Fire users, that won’t necessarily work out to that much virtual cash per customer.

App developers will keep 70% of the proceeds from coin purchases, with the rest of the money going to Amazon. The company is telling app developers that Amazon Coins will encourage customers to spend more.

Amazon Coins will show up in eligible customers’ accounts sometime in May.