Amazon Coin is officially Amazon’s new virtual currency, spendable on purchasing content, apps, and more.
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Amazon has announced that it has launched its virtual currency: the chosen name is “Amazon Coin” and it will initially circulate only for customers in the United States, starting from May 2013.
Each Amazon Coin will be equivalent to 1 cent of a dollar, and there will also be ways to accumulate credit through various initiatives, about which, however, Amazon has not yet revealed anything.
It’s easy to imagine that perhaps, for purchases on Amazon‘s e-commerce platform, one might receive Amazon Coins upon reaching certain spending thresholds, exactly like loyalty cards or point collection schemes we are all familiar with.
These are hypotheses, but in any case, what is certain is that the Coins will be used to purchase applications, games, and content designed for Amazon’s two tablets: Kindle Fire and Kindle Fire HD.
Obviously, it will not become the only currency accepted on the Amazon store: credit cards and therefore dollars will continue to be valid payment methods for making purchases in the Amazon universe.
However, to promote the initiative and help its customers become familiar with Amazon Coin, the company has decided to put a certain amount of virtual currency into circulation, giving each subscriber a sum, although it is not yet quantifiable.
There is undoubtedly much curiosity surrounding this initiative, especially because virtual currencies have not been particularly successful to date: consider, for example, the Facebook Credits, launched for purchasing games on Facebook but never truly taking off and establishing themselves.
Will the destiny of Amazon Coin be any different?
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