Amazon is About to Jump into NFT Development Race in 2023


 

Amazon will soon jump into NFT development and unveil its initiative in April. As per reports, it is going to be around blockchain-based gaming.


Amazon’s NFT project is set to begin in the spring. Apparently, Amazon has been trying to sell its virtual collection initiative to a host of industry leaders, which include technology platform marketplaces and blockchain-based game creators and companies.


Andy Jassy, Amazon CEO has said previously that he is open to the company selling NFT. In April last year, the CEO had also expressed optimism about NFTs and cryptocurrencies anticipating Amazon’s possible decision to start accepting cryptocurrencies as a mode of payment and selling non-fungible tokens.  


The reports suggest that the project is still in the development stage and Amazon is set to go public with its crypto ambitions in April. A source stated, “We knew it was possible but now it looks like it’s happening. That will affect those already in the Web3 space – if they are smart about it and do this right.”


As per Blockworks, Amazon will follow in the footsteps of Microsoft and Meta to become a technological titan in NFT Software Development. When the plan was in talks, it was to do at least one NFT delivery with artists, and since then the project has evolved considerably. In addition to that, Amazon has been exploring Web3 initiatives.

It is not clear who was running the NFT initiative of Amazon but the sources said that the platform will be run by Amazon and not by its hosting platform, Amazon Web Services. 


Final Words

Amazon’s NFT initiatives are a direct indication of the vast popularity of NFTs. The industry is waiting for April when Amazon is expected to unveil its initiative and join the race to become the best NFT Development Company.


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