Amazon to Launch NFT Marketplace in April

The e-commerce giant, Amazon, is reportedly launching its own NFT platform as early as next month.

According to reports, Amazon is launching its own NFT marketplace on April 24th. Apparently, the new platform “Amazon Digital Marketplace” will launch with 15 NFT collections. Moreover, Amazon plans to leverage NFTs as rewards for its customers, and tie the NFTs to real world assets – delivered to your doorstep. 

At present, it is not clear which blockchain Amazon will partner with. Initially, Amazon will launch the marketplace to U.S. customers first, before gradually rolling out to other countries. 

Amazon CEO Bullish on NFTs

Amazon CEO Andy Jassy clearly recognizes the potential of NFTs. Previously, Jassy made strong suggestions that Amazon was fully on board with crypto and NFTs. Jassy said: “I expect that NFTs will continue to grow very significantly. We’re not probably close to adding crypto as a payment mechanism in our retail business, but I do believe over time that you’ll see crypto become bigger and – it’s possible that Amazon ingrates crypto payments.”

Amazon is already funding NFT platforms like Superplastic, which secured $20 Million in a series A funding round led by Amazon last month. Hence, Amazon’s plans to utilize Web3 technology are starting to take shape.

Customers will be able to purchase NFTs from the Amazon Digital Marketplace using a credit card. Further down the line, it is likely that we will see crypto payments integrated.

Sleeping giant

Amazon is clearly building something major behind the scenes in Web3. In January, it was revealed that Amazon’s computing service AWS had teamed up with Ava Labs to speed up the adoption of blockchain technology. Indeed, the partnership will enable users to run nodes on Avalanche blockchain with just one click.

With all its involvement with NFTs and the blockchain, it’s safe to say that Amazon is going all in with Web3. As always, we will keep you in the know!