Several sources familiar with Amazon’s plans have stated that the e-commerce giant reportedly plans to launch a non-fungible token (NFT) initiative in the spring. The company has allegedly been exploring launching a digital assets enterprise across its primary platform, not via Amazon Web Services (AWS).
Amazon’s entry into the Web3 landscape could boost the credibility and vitality of an industry that currently finds itself at an inflection point.
While the effort remains under development, those sources have indicated that an April launch appears to have been “penciled in.” Amazon’s Web3 ambitions reportedly include blockchain-based games and NFT collectibles.
Whether Amazon plans to launch a marketplace remains unclear. However, any moves by the Seattle-based corporation would significantly impact existing players in the industry, such as OpenSea or Rarible, due to the size, scale, and influence of the e-commerce titan.
Andy Jassy expressed his belief in the potential for the growth of NFTs in the company in an April 2022 interview. He further mentioned that incorporating cryptocurrency as a payment option for their retail business is not an immediate plan, but there is a possibility of it happening in the future. If recent reports are accurate, a potential move into the NFT space may happen this April.
.tweet-container,.twitter-tweet.twitter-tweet-rendered,blockquote.twitter-tweet{min-height:261px}.tweet-container{position:relative}blockquote.twitter-tweet{display:flex;max-width:550px;margin-top:10px;margin-bottom:10px}blockquote.twitter-tweet p{font:20px -apple-system,BlinkMacSystemFont,”Segoe UI”,Helvetica,Arial,sans-serif}.tweet-container div:first-child{
position:absolute!Important
}.tweet-container div:last-child{
position:relative!Important
}
Jassy has experience in the collectibles industry. After graduating from Harvard, he worked as a project manager for MBI, a company that specializes in offering a wide range of collectible products through print and digital media. It’s uncertain how Amazon’s entry into the NFT space will be implemented in a market that has seen a decline in activity.
If sources are true, the company’s size and reach could bring more mainstream attention and adoption to the space, which could positively impact the growth and credibility of the NFT industry. Also, Amazon’s potential entry into the market could lead to increased competition among existing players, driving innovation and advancements in space. The NFT market is at an inflection point, and Amazon’s entry could boost the industry’s vitality.
For Other Recent News about Amazon:
Avalanche (AVAX) is Partnering with Amazon – What It Means For Snowfall Protocol (SNW) – DailyCoin
For More NFT News:
Kevin Rose in Phishing Scam that Claims $1.1M in NFTs – DailyCoin
See original on DailyCoin
Source: Cryptocurrency - investing.com
