Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
Amazon CEO Andy Jassy is very much confident about the growth of the NFT space and we might soon see NFTs trading on Amazon this year.
E-commerce giant Amazon.com Inc (NASDAQ: AMZN) is reportedly gearing up for the launch of its NFT platform very soon. As per details the launch shall happen next month on 24th of April.
An exclusive report from The Big Whale shows that Amazon is getting ready to sell non-fungible tokens (NFTs) on its website. From the time of launch, nearly fifteen collections will be available on the platform.
Reportedly, Amazon has been working on its NFT platform for months now. The news of Amazon’s venture into NFTs first came earlier this year in January. Reportedly, amazon’s NFT initiative will allow the company to focus on blockchain-based gaming which will reward players with non-fungible tokens (NFTs).
In the past, Amazon CEO Andy Jassy also showed his confidence in the growth of the NFT market. He said:
“I expect that NFTs will continue to grow very significantly. We’re not probably close to adding crypto as a payment mechanism in our retail business, but I do believe over time that you’ll see crypto become bigger and – it’s possible that Amazon ingrates crypto payments.”
With the number of global customers that Amazon offers its service, it could make a huge impact by offering NFTs. Previous reports also suggested that the NFTs will run on Amazon instead of the company’s cloud computing unit – Amazon Web Services (AWS).
Amazon and NFTs
Over the last year, the e-commerce platform Amazon has shown a growing interest in Web3 technologies with the company opening new job roles for the AWS team.
Back in December 2022, Amazon also unveiled a new documentary “NFTMe,” thereby introducing con-fungible tokens (NFTs). This documentary features artists, collectors, and industry professionals worldwide who share their experiences with NFTs. It highlights how the merger between tech and art has positively impacted their lives.
In its first season itself, NFTMe has featured more than 50 guests. Among them include names like Peter Rafelson and Cheryl Douglas, Queen Diambi of Congo, Refik Anadol, Susaye Greene, and more.
On the other hand, Amazon has also been funding some of the popular NFT platforms. Recently, creative NFT studio Superplastic secured $20 million in Series A funding backed by Amazon and others.