Amazon to launch digital assets, pioneered by NFTs in April 2023

Amazon is preparing to launch a digital assets division, with its highly anticipated NFT venture set to make a splash in April 2023.

Sources assert that Amazon is placing significant emphasis on blockchain-based gaming, as well as other NFT-based applications (play to earn NFTs).

Amazon’s new venture into crypto is monumental, with far-reaching implications, and poised to be a game-changer for the crypto world for a multitude of reasons.

“We knew it was possible,” the source said. “But now it seems like it’s really happening. That’s going to affect the existing players in the space — if they execute and do this right and are smart about it.” One source said.

Details still hush-hush

One insider shared that Amazon originally had plans to collaborate with an artist for a highly anticipated NFT drop. However, the company’s vision for its Web3 endeavors appears to have evolved and grown beyond initial expectations.

Information about the platform that will serve as the home for Amazon’s NFT gaming endeavors is still scarce. Nonetheless, sources say the NFT initiative will not be hosted on Amazon’s widely used web-hosting platform, Amazon Web Services (AWS).

The CEO of Amazon, Andy Jassy, has made it known that the company will not turn a blind eye to digital assets and is open to the possibility of offering digital assets for sale in the future.

Parting shot

This endeavor will shake up the NFT marketplace, giving established players like OpenSea and Rarible a run for their money. 

“With its vast customer base, Amazon has the potential to make a massive impact on the NFT marketplace,” stated one source.

Furthermore, Amazon has been forging strategic partnerships in the crypto arena. 

Just last month, Amazon Web Services (AWS) joined forces with Ava Labs to ramp up blockchain adoption among enterprises, institutions, and government entities.