This year, Amazon plans to launch an NFT venture focused on blockchain gaming. Amazon customers will begin earning NFTs through playing games.
Customers of the e-commerce behemoths will be able to play games powered by the blockchain and receive NFTs as prizes thanks to this effort.
Contrary to popular belief, Amazon, rather than Amazon Web Services (AWS), the business’s subsidiary that offers a developing cloud computing platform, will handle the platform on behalf of the corporation, according to Coinspeaker.
Although the program is still in its early stages, a debut is anticipated for April of this year.
According to reports, the company has been shopping the digital collectibles market for power players in the industry. Those entities are layer-1 blockchains, developers, digital asset exchanges, and blockchain-based gaming startups. “
“Amazon coming into the space is a big one for crypto for many reasons,” one source said.
“We knew it was possible,” the source said. “But now it seems like it’s happening.” That will affect the existing players in the space if they execute, do this right, and are smart about it. It is palpable that this is an avenue for the company to make a grand entry into the Web3 space via its NFT initiative.
Amazon customers will begin earning NFTs through playing games
CEO Andy Jassy has previously expressed his belief in NFT growth and that the company might start selling them. He added that Amazon would also stay open for cryptos.
“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.”
When it announced blockchain-related employment openings for the Amazon Web Services (AWS) team in the spring of 2022, Amazon first demonstrated interest in Web3 technology. The company’s Web3 strategy has, however, made significant advancements since then.
The first time Amazon showed interest in Web3 technologies was in the spring of 2022 when the company opened blockchain-related job roles for the Amazon Web Services (AWS) team. However, the company’s Web3 plan has advanced greatly since that time.
It’s not immediately clear who manages the firm’s NFT initiative in terms of people. The platform is currently being developed and would support some NFT gaming activities. According to a source, Amazon recently looked at several additional Web3 projects. For the platform and Amazon’s subsequent explorations into cryptocurrencies, more internal employees would probably be necessary.
Although Amazon Web Services periodically posts openings for developers and engineers in the Web3 area, it is less widely known for its research into the bitcoin and blockchain industries. The Amazon Coins program was launched in 2013 and is still going strong, but it operates more like a regular loyalty program than a cryptocurrency scheme.
It’s also uncertain what exactly Amazon’s Web3 goals and eventual ambitions are. It’s unclear if the company intends to go up against businesses like OpenSea and Rarible; two sources said that both would view a successful launch as a severe threat.
Amazon “may make a significant impression in the NFT industry with the [number] of clients they have,” one person claimed.
NFTs are discussed in “NFTMe,” a new documentary series that Prime published in December 2022. On the program, artists, collectors, and business experts from across the world discuss their encounters with NFTs and how the fusion of art and technology has improved their quality of life.
Over 50 guests have appeared on NFTMe, which is produced by award-winning production company Tech Talk Media and directed by award-winning filmmaker Jonny Caplan. They include Susaye Greene, Refik Anadol, Queen Diambi of the Congo, Peter Rafelson, Cheryl Douglas, and more. They’ve all had NFT experience. They discuss Web3 and NFTs and give examples of how NFTs have improved their lives.