Find out how Amazon is moving into the NFT market in late spring

E-commerce giant plans to launch an initiative involving non-fungible tokens (NFT). According to those familiar with the matter, the NFT initiative, known as the Digital Assets Enterprise, will allow Amazon to focus on blockchain-based games that reward players with NFTs.

The NFT initiative is expected to launch as early as this spring, in April.

Earlier, Amazon CEO Andy Jassy said he believes in the growth of NFTs, and that the company may start selling them. He added that Amazon would also remain open to cryptos.

Andy Jassy said:

“I expect NFTs to continue to grow in a very significant way. We’re probably not close to adding crypto as a payment mechanism in our retail business, but I think over time you’ll see crypto grow and – it’s possible that Amazon will integrate crypto payments.”

It appears that the time for Amazon’s NFT platform has come.

One of the sources commented:

“We knew it was possible. But now it looks like it’s actually happening. It’s going to affect the existing actors in space – if they execute and do this correctly and are smart about it.”

Another spokesperson familiar with the issue added:

“With the [nombre] customers that Amazon has, they could make a huge splash in the NFT market. “

A few sources said the initiative would likely involve getting Amazon customers to play crypto-currency games and claim free NFTs in the process. And the platform will likely be run by Amazon rather than Amazon Web Services (AWS), an Amazon subsidiary that provides a scalable cloud computing platform. But it’s not yet clear who will be in charge of this initiative.

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Amazon explores the NFT space

The first time Amazon showed interest in Web3 technologies was in the spring of 2022, when the company opened up blockchain-related positions for the Amazon Web Services (AWS) team.

In December 2022, Amazon released a new documentary series “NFTMe” featuring NFTs. The show features artists, collectors and industry professionals from around the world sharing their experiences with NFTs and how the fusion of art and technology has positively affected their daily lives. Produced by award-winning production company Tech Talk Media and directed by award-winning director Jonny Caplan, NFTMe hosted more than 50 different guests during its first season. Among them are Peter Rafelson and Cheryl Douglas, Queen Diambi of the Congo, Refik Anadol, Susaye Greene and more. All have experience with NFTs, talk about Web3 and NFTs, and explain how NFTs have positively impacted their lives.

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As of January 3, the series is available on Amazon Prime for members in the UK and US, with plans for a global launch later this year.

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