March 30, 2023
By Sharan Kaur Phillora
Amazon, the e-commerce and cloud computing conglomerate, is working on a Non-Fungible Token (NFT) related project. According to reports, CoinDesk’s Nikhilesh De received an email after an automatic Amazon Prime Video channel subscription was renewed. that confirms the availability of digital tokens on the platform.
Here’s what we know:
Nikhilesh De had not purchased a non-fungible token (NFT) from Amazon and had no prior knowledge of the platform’s integration of NFTs. The email hints that digital tokens are saved in the gallery. A user can only re-sell the tokens after registering as a reseller.
Rumors have been swirling that Amazon plans to launch an NFT marketplace in April. It is believed that Amazon will launch 15 NFT collections alongside its marketplace on April 24, and the marketplace will be available as a tab on Amazon’s main website titled Amazon Digital Marketplace.
Some say that Amazon is considering spreading the word about its digital collectibles push is sending out an email blast to every US-based Prime subscriber. And other say that the company plans to notify its Prime customers in some capacity — before or when the product goes live.
Representatives for Amazon working on the project have contacted layer-1 blockchains, blockchain gaming companies, and other types of emerging and established digital asset projects. The company has either hired or is looking to hire or partner with dozens of Web3-oriented developers.
Amazon intends to create some type of private blockchain. It’s unclear whether that could come about via a fork of an existing protocol.
About the author
Sharan Kaur Phillora’s thirst for knowledge has led her to study many different subjects, including NFTs and Blockchain technology – two emerging technologies that will change how we interact with each other in the future. When she isn’t exploring a new idea or concept, she enjoys reading literary masterpieces.
