March 10, 2023
By Sharan Kaur Phillora
Amazon continues to explore uncharted territories to boost its growth prospects. This is evident from its latest interest in non-fungible tokens (NFTs). Reportedly, the company is set to launch its NFT marketplace next month and enlist 15 NFT collectibles.
Here’s what we know:
According to various reports, Amazon plans to launch the “Amazon Digital Marketplace” on April 24. The platform will start offering the service to U.S. customers first and gradually roll out to other countries.
The NFT collections will reportedly be available on Amazon’s website and can be seen by clicking the “Amazon Digital Marketplace” tab. NFTs will only be purchased from the Amazon account and through a credit card.
After the initiative is launched, Amazon shoppers can purchase fashion-oriented NFTs linked to physical clothing, such as jeans, trainers, and sweatshirts.
These NFTs will be delivered to customer NFT accounts while the physical piece of clothing is delivered to customer doorsteps. Nike is one clothing company at the forefront of linking NFTs with their physical produce.
NFT service through the Amazon platform allows people who do not have access to crypto wallets like Metamask to buy NFTs. It claims Amazon was already planning to launch the NFT services since last year. However, the launch was delayed following the collapse of FTX.
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.