Amazon has announced the introduction of Amazon coins that Kindle Fire customers can use to purchase games, apps and in-apps items for their devices.

In a press statement released May 13, Amazon announced the introduction of the all-new Amazon coins with which customers can purchase games, apps and in-apps items for their Kindle Fire devices. As part of an introductory scheme, all existing and new Kindle Fire customers will have 500 Amazon coins (worth $5) credited to their accounts immediately for free.  

Amazon also noted that customers who purchase coins in bulk will receive a 10 percent discount, allowing them to buy more apps and games for their Kindle Fires. Coins can be purchased on the company's website. The coins are priced at $1 for 100 coins.

"Today we are giving Kindle Fire owners $5 worth of Coins to spend on new apps and games, or to purchase in-app items, such as recipes in iCookbook, song collections in SongPop or mighty falcon bundles in Angry Birds Star Wars. And with discounts of up to 10% when you buy Coins, this is a great way for customers to save money when they buy apps, games and in-app items," said Mike George, Vice President of Apps and Games at Amazon. "We will continue to add more ways to earn and spend Coins on a wider range of content and activities-today is Day One for Coins."

According to the statement, Appstore developers will earn 70 percent revenue when customers buy products with Amazon coins. Developers do not have to many any changes to their apps pertaining to the new coin purchasing system.