Amazon to launch gaming-focused NFT initiative

Amazon launches gaming-focused NFT initiative Amazon launches gaming-focused NFT initiative
Amazon launches gaming-focused NFT initiative

Cover/illustration via Cryptooshala

According to a Blockworks report, e-commerce giant Amazon is launching an NFT initiative focused on blockchain gaming and related NFTs in the spring of 2023.

The initiative is still under development, but the deadline for launch has been set for April, according to information from four anonymous individuals. general with Blockworks. One use case would allow Amazon users to play blockchain-based games and receive free NFTs, one of the sources said.

Evolving plans

Amazon executives leading the initiative have reached out to at least one family office in recent months, according to Blockworks. Even though it was planned to release at least one NFT collection with the artist, it quickly evolved into what it is today.

One source stated:

“We knew it was possible. But now it seems that this is actually happening. It will affect the existing players in the space – if they act and do it right and wisely.”

The new initiative will be launched on “Amazon itself” despite the fact that Amazon’s popular web hosting platform, Amazon Web Services (AWS), has posted job ads for Web3 developers over the past few months.

Amazon launched its loyalty-based coin program in 2013, which continues to exist separately from the new NFT initiative.

In April 2022, Amazon CEO Andy Jassi joined Squawk CNBC box. Yassi said he expects the NFT market to continue to grow and that Amazon may add crypto payments.

“I expect the NFT will continue to grow very significantly. We’re probably not close to adding crypto as a payment mechanism in our retail business. But I believe that over time you will see how cryptocurrency becomes a reality, and it is possible… it is possible in the future.”

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