Amazon NFTs and Token Reportedly in the Works

• Amazon is reportedly set to launch an NFT initiative that will allow consumers to purchase NFTs tied to real-world assets, with digital and physical purchases being possible.
• The e-commerce giant previously announced its NFT initiative in January and is now developing this further with the creation of an NFT marketplace, which may be available to customers in April.
• Amazon is also partnering with Web3 design company Ava Labs, which could help developers create apps that incorporate Amazon’s blockchain-based gaming and related NFT applications.

E-commerce giant Amazon is reportedly venturing into the non-fungible token (NFT) space; for this integration the firm revealed that they would allow their consumers to purchase NFTs tied to real-world assets.

In January, Amazon first announced their NFT initiative by launching a digital assets enterprise highlighting a focus on blockchain-based gaming and related NFT applications. The new announcement about NFTs tied to real-world assets is a new development to their venture. 

According to a source, Blockworks reported that once their digital collectibles initiative goes live the company is planning to notify every Amazon Prime customer — at least in the US.

As per a source, Amazon’s NFT venture will allow digital and physical purchases such as a fashion-oriented NFT tied to a pair of jeans. Basically, the NFTs will be delivered to the customer’s accounts while the physical counterpart will be delivered to their doorsteps.

Also last January, Web3 design company Ava Labs announced its partnership with Amazon. 

We’re joining forces with @Amazon to help enterprises and governments build compliant blockchain solutions. #AWS makes it easier to launch and manage #Avalanche nodes, giving the network more strength and flexibility for developers.https://t.co/vgabB5c6Ya

— Ava Labs 🔺 (@avalabsofficial) January 11, 2023

“AWS Activate is an excellent resource for developers to bring apps to the masses with Avalanche’s trailblazing speed, security, and scalability at their core,” John Wu, President of Ava Labs, stated.

In 2019, Amazon Web Services expressed their desire to offer different approaches to Centralized and Decentralized blockchain solutions. (Read more: Amazon Wants to Cater to Centralized and Decentralized Blockchain Solutions)

NFT Marketplace

In addition, Amazon is reportedly set to launch an NFT marketplace– which would probably be called “Amazon NFT Marketplace” or “Amazon Digital Marketplace.” The upcoming marketplace may be available to customers in April.

According to  The Big Whale, the marketplace could be released on April 24. They also noted that the release would have been sooner if not for the collapse of the cryptocurrency exchange FTX.

This article is published on BitPinas: Amazon NFTs and Token Reportedly in the Works

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