Amazon is gearing up to enter the NFT space in a big way with a new initiative that could bring millions of users into the fold. According to sources familiar with the matter, the e-commerce giant is planning to launch a platform that will allow customers to purchase NFTs tied to real-world assets that are delivered right to their doorstep. And with Amazon currently boasting approximately 167 million Prime members in the USA, the potential impact of this new initiative is enormous.
What’s particularly interesting about Amazon’s move is that the company plans to onboard users without educating them about self-custody or requiring them to set up a MetaMask wallet, sources said. Instead, shoppers will be able to purchase NFTs using a credit card, just like any other Amazon purchase. This development could help to bridge the gap between digital and physical ownership, making NFTs more accessible to a wider audience.
The timing of the launch is not yet clear, although one report suggests it could be as early as April 24. Amazon has declined to comment on the matter, but representatives for the company are said to be working with layer-1 blockchains, blockchain gaming companies, and other types of both emerging and established digital asset projects. Amazon’s intention is to create some type of private blockchain, multiple sources said, although it’s not yet clear whether that will come about via a fork of an existing protocol.
A source mentioned that millions of users can be welcomed without teaching individuals about self-custody and how to set up a MetaMask wallet. As of now, in the USA, Amazon has over 167 million Prime members.
Amazon probably has considered various options for integration ever since it has started to work on the initiative. The company’s representatives have contacts with layer-1 blockchains, blockchain gaming firms, as well as other evolving and renowned digital asset projects. Amazon has either hired or is keen to hire or collaborate with dozens of Web3-based developers. The company wanted to build a kind of private blockchain. It is not clear if Amazon Token will be involved in the deal, with one of them dubbing the setup like a “very walled garden.”
In January, Amazon Web Services partnered with Ava Labs in a bid to accelerate the adoption of blockchain technology. With the launch of an NFT marketplace, Amazon takes another step into the Web3 ecosystem. It joins other giants like Meta and Google.
CoinGape earlier reported that AWS had also partnered with Chainlink (LINK) for the node-creation solution. Moreover, Amazon Web Services had also tied up with public blockchain VeChainThor for blockchain-based carbon management services. Earlier reports have also suggested that Amazon is pushing its Amazon NFT plan for launch in the next quarter. The company appears to be planning to make its customers play crypto games and reward them with free NFTs.
