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NFTs News

Amazon Working Hard To Launch New NFT Initiative

January 27, 2023 - Around 2 mins mins to read

Key Points:

  • Amazon is starting a digital assets business, and an NFT project is anticipated for the spring.
  • According to a number of insiders, Amazon has been courting major participants in the market with its digital collectibles push.
  • Layer-1 blockchains, blockchain-based game businesses and developers, and digital asset exchanges are reportedly included among those entities.
According to Blockworks, which cited four persons familiar with the plans, Amazon is preparing to launch a new project utilizing non-fungible tokens in the spring.
Amazon Working Hard To Launch New NFT Initiative

The IT giant has more than a dozen partners lined up for the project, which will concentrate on gaming. One instance may be a campaign to encourage company consumers to participate in cryptocurrency games and win free NFTs.

According to a number of insiders, the company has been courting major participants in the market with its digital collectibles push. Layer-1 blockchains, blockchain-based game startups and developers, and digital asset exchanges are reportedly included among those entities. According to two sources, there is an emphasis on blockchain-based gaming and associated NFT applications.

The initiative is still in the development stage and might begin in April. Blockworks was informed by two sources that Amazon, not Amazon Web Services, a division of Amazon, would house the platform’s operations.

Amazon Working Hard To Launch New NFT Initiative

One source claims that one example is persuading Amazon consumers to play crypto games and earn free NFTs as a result.

Sources said that the endeavor is still under development. The e-commerce behemoth appears to have planned to announce its audacious crypto plans in April.

The company executives behind the initiative have recently contacted at least one family office. According to the same source, the initial plan included doing at least one NFT drop with an artist. Since then, Amazon’s Web3 design seems to have undergone tremendous development.

A fifth source mentioned that Amazon has recently been looking at many other Web3 projects. A number of internal employees would probably be a requirement for both the platform and the company’s subsequent explorations into cryptocurrency, one insider added.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Harold

Coincu News

Amazon

Amazon Web Services

Web3

Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.
NFTs News

Amazon Working Hard To Launch New NFT Initiative

Key Points:

  • Amazon is starting a digital assets business, and an NFT project is anticipated for the spring.
  • According to a number of insiders, Amazon has been courting major participants in the market with its digital collectibles push.
  • Layer-1 blockchains, blockchain-based game businesses and developers, and digital asset exchanges are reportedly included among those entities.
According to Blockworks, which cited four persons familiar with the plans, Amazon is preparing to launch a new project utilizing non-fungible tokens in the spring.
Amazon Working Hard To Launch New NFT Initiative

The IT giant has more than a dozen partners lined up for the project, which will concentrate on gaming. One instance may be a campaign to encourage company consumers to participate in cryptocurrency games and win free NFTs.

According to a number of insiders, the company has been courting major participants in the market with its digital collectibles push. Layer-1 blockchains, blockchain-based game startups and developers, and digital asset exchanges are reportedly included among those entities. According to two sources, there is an emphasis on blockchain-based gaming and associated NFT applications.

The initiative is still in the development stage and might begin in April. Blockworks was informed by two sources that Amazon, not Amazon Web Services, a division of Amazon, would house the platform’s operations.

Amazon Working Hard To Launch New NFT Initiative

One source claims that one example is persuading Amazon consumers to play crypto games and earn free NFTs as a result.

Sources said that the endeavor is still under development. The e-commerce behemoth appears to have planned to announce its audacious crypto plans in April.

The company executives behind the initiative have recently contacted at least one family office. According to the same source, the initial plan included doing at least one NFT drop with an artist. Since then, Amazon’s Web3 design seems to have undergone tremendous development.

A fifth source mentioned that Amazon has recently been looking at many other Web3 projects. A number of internal employees would probably be a requirement for both the platform and the company’s subsequent explorations into cryptocurrency, one insider added.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Harold

Coincu News