Amazon could before long join the rundown of Fortune 500 organizations to enter the NFT market. According to a report published today by Blockworks, the world’s largest online retailer will introduce a “digital assets enterprise” this spring.
The startup will concentrate on blockchain-based gaming that pays gamers with NFTs, according to one unnamed individual who talked with the publication. Although Amazon Web Services (AWS) will reportedly no longer be in charge of running the platform, it is still unknown who will be in charge of hiring the key personnel.
Amazon Stepping into the Crypto
This information follows the recent agreement between Amazon and Ava Labs, the organization responsible for the Avalanche blockchain. Ava Labs planned to introduce Subnet deployment as a managed service to the Amazon Marketplace, enabling consumers to swiftly create personalized Subnets, the teams said in a news release at the time.
According to Emin Gün Sirer, founder and CEO of Ava Labs, the ability to rapidly spin up nodes and test networks with AWS in whichever legal jurisdiction makes the most sense for them has been a big advantage for both individual and enterprise developers.
- Amazon could join the Fortune 500 organizations to enter the NFT market.
- The Amazon Marketplace, allowing users to quickly establish customized Subnets.
- The CEO of Amazon predicts that NFTs will continue to grow quite quickly.
Andy Jassy, the CEO of Amazon, expressed his belief that the company would offer NFTs in a Squawkbox interview on CNBC in April 2022, and he anticipates that NFTs will keep on developing rapidly.
We’re probably not close to integrating cryptocurrency as a payment method in our retail operation, but I do think it will grow over time, he predicted at the time. Jessy responded, “Yes, I think it’s down the line,” when asked if he could imagine Amazon selling NFTs.
This recent strategy appears to be an outgrowth of earlierumorsrs of Amazon working with well-known Web3-native artists. Amazon had already entered the NFT market through a television series called NFTMe, which examines NFT culture and disruption throughout the globe.
Besides everything that anonymous sources said to Blockworks, little is had some significant awareness of Amazon’s impending introduction to NFTs; nonetheless, the organization is probably going to uncover more subtleties to people in general before very long since April seems, by all accounts, to be the conditional delivery date for these ongoing undertakings, as per the report.
