Amazon eyes big on its plan for NFT program in 2023

The latest reports revealed Amazon’s plan to invest in blockchain gaming and NFT applications in 2023.

Amazon eyes big on its plan for NFT program in 2023

By Nidhi Bhardwaj: According to the latest reports, Amazon is preparing to enter the world of digital assets and non-fungible tokens (NFTs). The company has planned to launch a digital assets enterprise, and its NFT initiative as early as the spring of 2023.

Amazon will promote its digital collectibles initiative while encouraging customers to play crypto-games in exchange for free NFTs, revealed the sources. Lately, the tech giant has been focusing heavily on the creation of blockchain-based gaming and other related NFT applications to be unveiled this year.

Amazon initiatives towards Web3

This latest plan seems likely to be a new evolution of previously rumoured efforts for Amazon to collaborate with established Web3-native artists. Earlier, Amazon had become involved in the NFT space through a series called NFTMe, which explores NFT culture and disruption worldwide.

On this, a crypto source said, “Amazon coming into space” is ‘a big one’ for crypto for many different reasons. We knew it could happen. But now it appears that it is actually happening. That will have an impact on the existing players in the space if they execute and do this correctly and wisely.”

Andy Jassy, the CEO of Amazon, has previously stated, “We are not closing the door on some crypto, and reiterated that Amazon is open to selling NFTs.”

Amazon envisions 2023 to unveil big Web3 plans

It appears April 2023 is on the table for the e-commerce giant to make its crypto ambitions public, sources said. “With Amazon’s number of customers, they could make a huge impact in the NFT marketplace,” mentioned the sources.

Ava Labs, the company behind the Avalanche blockchain, recently announced a partnership with AWS(Amazon Web services) on 11 January. The CEO of Ava, Emin Gün Sirer, described it as “a huge boon for both individual and enterprise developers to be able to spin up nodes and test networks on the fly with AWS in whatever legal jurisdiction makes the most sense for them.”