Amazon ( AMZN) introduced Amazon Coins, a digital currency for Kindle Fire owners that can be used to purchase apps and games. The company hopes Coins will be easier to use and will spark more paid downloads from the Amazon Appstore. "It's another opportunity to drive traffic, downloads and increased monetization," Amazon said in a developers blog post. The company said Appstore developers will continue to earn 70% revenue share when customers make in-app purchases. The company on Monday gave Kindle Fire owners $5 worth of Coins to spend on new apps or games or to purchase in-app items. Amazon said there are no fees attached to Coins and they never expire. Five hundred Coins cost $5; 1,000 cost $10 and 10,000 cost $100, but the company said there are discounts on them of up to 10% if users buy them in bulk.
Nvidia ( NVDA) announced it is taking pre-orders for its Project Shield portable gaming system. The system, now dubbed SHIELD, is an Android handheld able to access games from a variety of sources. It features a game controller with a 5-inch, 720p retinal multi-touch display and runs on Android 4.2.1. Jelly Bean. "SHIELD is the one device that taps into the planet's largest ecosystem of games--spanning Nvidia TegraZone, Google ( GOOG) Play, and Steam. Rediscover your Android games with the mobility, control, and performance of SHIELD. Connect to your Google Play account to enjoy your favorite movies, music and apps." SHIELD is priced at $349 and will be carried at retailers including GameStop ( GME), Newegg, Micro Center, and Canada Computers. The initial pre-order period is available only to those who have signed up on the SHIELD website, but it will open up to the general public on May 20. The handheld will ship in June. In the future, Nvidia said it hopes to be able to stream PC games to SHIELD as well.
The chatter on Main Street (a.k.a. Google, Yahoo! and other search sites) is always of interest to investors on Wall Street. Thus, each day, TheStreet compiles the stories that are trending on the Web, and highlights the news that could make stocks move. -- Written by Brittany Umar.