Amazon is ready to dip its giant toes into NFTs
Amazon is reportedly ready to launch an NFT marketplace, likely called “Amazon NFT Marketplace” or “Amazon Digital Marketplace,” which could be available to customers in April.
The NFT marketplace was first detailed by Blockwork in January, but details were scarce – the same month Web3 design company Ava Labs announced its partnership with Amazon on Twitter. Although there has been no official announcement from Amazon, The big whale reports that the NFT marketplace could be unveiled on April 24 and claims that it would have been released earlier if not massive collapse of crypto exchange FTX.
In accordance Yahoo News, Amazon customers will be able to purchase NFTs using a debit or credit card through their own Amazon account, or possibly even link their own crypto wallet to their account as well. Blockworks explains that the NFT marketplace may have a focus on games, where users can play a blockchain-based game and win NFTs.
Amazon did not immediately return Gizmodo’s request for comment on details surrounding the marketplace.
Amazon missed the boat on the NFT boom, which peaked in 2021 before then crashing that fall—The Wall Street Journal writes last spring that NFT sales fell 92% from the peak in September 2021, while the number of active wallets fell 88% from the peak in November 2021. What little reputation the crypto had left was also weakened by the collapse of FTX, where CEO Sam Bankman-Fried is accused of moving $9.3 billion in client funds to the adjacent hedge fund Alameda Research, only to come up empty when those FTX customers wanted their money back.
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