• Amazon is reportedly planning to launch a digital asset enterprise focused on non-fungible tokens and Web3 gaming this spring.
• To help with the initiative, Amazon has reportedly lined up more than a dozen partners, including layer-1 blockchains, blockchain-based gaming startups and developers, and digital asset exchanges.
• Amazon CEO Andy Jassy has previously expressed optimism about the future of cryptocurrencies and NFTs.
Amazon, the world’s largest retailer, is planning to enter the crypto NFT market with a gaming initiative set to launch this spring. The initiative is in the early stages of development and will include a “digital asset enterprise” focused on non-fungible tokens and Web3 gaming, according to a report by Blockworks.
The initiative is supported by more than a dozen partners, including layer-1 blockchains, blockchain-based gaming startups and developers, and digital asset exchanges. As part of the project, Amazon is looking to get customers to play crypto games and claim free NFTs. This will be achieved through an NFT drop with an artist that is currently in the works.
Amazon has been posting roles for developers and engineers in the Web3 realm since 2021. In April last year, Amazon CEO Andy Jassy expressed optimism about the future of cryptocurrencies and NFTs. Jassy noted that while Amazon is not looking into adding crypto payments, he believes that “over time, you’ll see crypto become bigger”.
The impending launch of Amazon’s digital asset enterprise will help expand the NFT market and bring more awareness to it. It will also provide an opportunity for developers and game makers to reach a wider audience. As the initiative continues to progress, it will be interesting to see how Amazon’s foray into the NFT market will further shape the industry.