Amazon has announced the launch of its new virtual currency, Amazon Coins, allowing U.S. customers to buy apps and in-app items on the Amazon Appstore for Android. The currency will be launching in May, with one Amazon Coin being worth one cent according to the Amazon Developer FAQ.
Amazon Coins work like any other payment method for the Appstore and developers still receive the same 70 percent revenue share for their use. Developers who use the latest Amazon Mobile App SDK don't have to make any changes to their app to use Amazon Coins.
To commemorate the May launch of the new monetization option, Amazon will be giving away "tens of millions" of Coins to customers. Amazon expects developers to have their new apps and app updates submitted and approved by April 25th in order to participate in the launch.