Amazon Preparing to Launch NFT Programs: Crypto Games, Free NFTs, and Artist Collaborations on the Horizon

ChainPlay

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one year ago

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Amazon is reportedly preparing to launch a new digital assets enterprise in the spring, which will include a focus on blockchain-based gaming and related NFT applications. According to Blockworks, the company is planning to potentially get Amazon customers to play crypto games and claim free NFTs in the process. The company is said to be developing a platform that would run out of Amazon proper, rather than its popular web-hosting platform, Amazon Web Services (AWS).

The e-commerce giant has reportedly reached out to at least one family office in recent months, with the plan of introducing at least one NFT drop with an artist. However, it appears that Amazon's Web3 blueprint has significantly evolved since then, and it still needs to be made clear who is leading the company's NFT initiative.

OpenSea NFT Marketplace source: Widewalls

Amazon CEO Andy Jassy has previously stated that he is open to the company selling NFTs and that the company is not closing the door to cryptocurrencies generally. However, it is not yet clear what the company's end goal is for its Web3 ambitions. Whether Amazon intends to compete with existing NFT marketplaces such as OpenSea and Rarible is unclear, but sources have said that both entities would view a successful launch as a substantial threat.

There are over 2.5 million users already interacting with OpenSea, the leading NFT marketplace today by trading volume. Amazon's entry into the market would certainly make a huge impact. Meanwhile, Amazon’s developing NFT game could attract Amazon's large customer base and potential for successful execution. The NFT game could be a game changer for the industry, attracting new users and potentially driving mainstream adoption.

The NFT market is definitely one to watch as more and more big players enter the space, with Amazon's entry being one of the most highly anticipated.