The world first caught wind of e-commerce giant Amazon’s first inklings of NFT exploration less than three months ago. But it looks like the next three months could very well be action-packed, as rumors continue to swirl around the new expected Amazon NFT marketplace.
Will it be the biggest consumer brand to enter the space to date? Could your entire shopping experience change forever? Or is it just another short-term ‘hype’ builder for the brand that isn’t about a long-term vision?
We don’t have all the answers, at least not yet – but let’s take a quick look at what we know thus far and what lies ahead in NFT engagement for the company.
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Amazon’s New Marketplace
Just two months ago, our team covered the details surrounding the first reports that emerged around the matter, detailing that gaming was a highly likely area of interest. An e-commerce giant the size of this one almost made the news feel ‘not quite real.’
However, more details are now hitting the surface this week outlining that Amazon’s NFT marketplace could be hitting the market as early as late April (yes, that’s less than two months away) – outlet Blockworks has released a report, citing unnamed sources familiar with the matter.
Additionally, some reports (including Blockworks) have stated that NFTs could be utilized in customer deliveries in what could easily prove to be the largest ‘utility’ play in NFTs to date; and Amazon even reportedly has interest in creating their own private blockchain.
The company is an absolute mammoth, and it’s almost surprising to see how quickly the firm is moving in this initiative (assuming that there is a platform launch for this program in the months ahead).
Amazon (NASDAQ:AMZN) could be the next big name to get into the NFT space. | Source: NASDAQ:AMZN on TradingView.com
The Biggest Yet
There’s been initiatives from companies like Reddit and Starbucks – both of which used Polygon whitelabeling solutions to onboard consumers in a seamless fashion – but should the emerging reports prove true, Amazon could take NFT engagement and utility over the top.
Furthermore, while Amazon has held off on integrating crypto payments on the platform at any substantial level, this year could change that as well, as CEO Andy Jassy has said that he “expect(s) that NFTs will continue to grow very significantly” and that it’s “possible” that Amazon integrates crypto payments in the future.
Earlier in the year, we saw Amazon launch a partnership with Avalanche – though it remains to be seen if Avalanche will continue to be the blockchain of choice for this next initiative.