Less than three months ago, news of the e-commerce behemoth Amazon’s first NFT research broke across the globe. Yet given that there are still many unconfirmed speculations about the upcoming Amazon NFT marketplace, it seems as if the next three months might be quite eventful.
Will it enter the market as the largest consumer brand to date? Could the whole way you shop alter for good? Is it a long-term vision, or is it simply another short-term “buzz” maker for the brand?
Let’s take a short look at what we know so far and what lies ahead in NFT engagement for the organization. We don’t have all the answers, at least not yet.
Only two months ago, our team discussed the specifics of the first claims that surfaced over the subject, outlining how gaming was a very probable area of interest. The scale of this e-commerce titan nearly made the news seem “not quite true.”
But, fresh information has just emerged suggesting that Amazon’s NFT marketplace may launch as soon as late April (yep, that’s less than two months away) – site Blockworks has published a story, citing unidentified persons with knowledge of the situation.
Moreover, according to some publications (including Blockworks), NFTs might be used in customer deliveries, which would undoubtedly represent the biggest “utility” bet in NFTs to date. Amazon is even said to be interested in developing their own private blockchain.
It’s almost shocking to see how swiftly the corporation is moving on this project given the size of the organization, which is just enormous (assuming that there is a platform launch for this program in the months ahead).
Reddit and Starbucks have both employed Similar whitelabeling technologies to seamlessly integrate customers as part of their programs, but if the recent allegations are accurate, Amazon may significantly increase NFT participation and usage.
However, while Amazon hasn’t yet fully integrated cryptocurrency payments on its platform, this year may mark a shift in that regard. According to CEO Andy Jassy, he “expects that NFTs will continue to develop very rapidly” and that it’s “possible” that Amazon may do so in the future.
Amazon and Avalanche announced a cooperation earlier this year, however it is unclear whether Avalanche will remain the preferred blockchain for this next project.
