- Amazon is finally rolling out its NFT initiative by launching a digital asset enterprise in April, Blockworks reports.
- The project will focus on blockchain-based games and NFT rewards
- The retail giant’s new initiative can drive the eCommerce industry into the Web3 world
According to unknown resources, Amazon is gearing up to introduce new NFT initiatives this spring. The eCommerce giant will leverage crypto games and give NFT rewards to players in return.
This new initiative will run on the Amazon proper instead of Amazon Web Services (AWS). However, no details were shared about who is leading the project.
Other than the fashion and music industry, now retail and eCommerce are also adopting non-fungible tokens in 2023. Since Amazon is a well-known global company, this initiative could help customers understand the true definition and utility of NFTs.
According to Blockworks
According to Blockworks, Amazon executives have been pushing towards an NFT drop with a famous artist for a long time. Now, the company has designed its own blueprint for this new technology.
The giant company will dive into NFT gaming. It already has a Prime service subscription where users can get exclusive rewards to claim AAA games every month. The NFT initiative might be structured in the same way.
Players who engage in Amazon’s gaming will receive unique items as rewards. The utility of these assets is yet to be shared but it’s most likely going to link with either the retail store, Prime services, or something completely new.
Amazon Prime recently unveiled a 6-episode series about NFTs to educate its subscribers about the new technology and how it works. This exclusive series was the first hint of the company entering the NFT space.
Nonetheless, this is an important moment for the eCommerce sector because Amazon will drive other retail competitors to try out NFTs in their own ways. Recently, eBay also partnered with OneOf to release Led Zeppelin NFTs.