Amazon Launching Its Own NFT Marketplace – Everything You Need to Know

Introduction

Recently, there has been a rumor that Amazon is planning to launch its own NFT marketplace, and according to a Web3 enthusiast, Moritz, this marketplace could launch within 12 days. Although it is not yet confirmed whether this rumor is true or not, it has already created a buzz in the cryptocurrency world. In this article, we will discuss everything you need to know about Amazon’s supposed entry into the NFT marketplace.

Amazon NFT’s

Amazon’s main goal with this NFT marketplace is to make buying NFTs as easy as possible. So, you will be able to buy NFTs with fiat money via a credit card, and you will no longer require any technical knowledge about cryptocurrencies to purchase or store digital art. With just an Amazon account, you would be able to buy tokens, which would be stored in your account. According to Mortiz, Amazon also plans to introduce “phygital,” which means that you can purchase NFTs with your credit card and receive physical products related to the NFT you’ve purchased.

Moreover, Amazon also sees a future in the combination of blockchain and gaming. This is evident in the fact that Amazon is also trying to bet on this area, as indicated in various articles by Moritz.

Its Own Blockchain

In addition to the NFT marketplace, Moritz also claims that Amazon is planning to launch its own private blockchain. Various Ethereum projects would end up there, and collaborations with Avalanche (AVAX) and Chainlink (LINK) are also relevant to this development.

According to Moritz, the name of the marketplace will be “Amazon Digital Marketplace”, and initially, it will only be available in the United States. Moritz believes that we can conclude from the user numbers that this is a major development for the NFT ecosystem. Amazon has 197 million monthly users, all of whom could potentially flock to the marketplace.

The Impact of Amazon’s Entry into the NFT Marketplace

If the rumor is true, Amazon’s entry into the NFT marketplace could have a huge impact on the world of cryptocurrency and NFTs. With Amazon’s massive reach, the NFT marketplace could become accessible to millions of people worldwide. This could lead to more adoption of NFTs, which could translate to a surge in prices for some digital assets. Moreover, if Amazon does indeed launch its own private blockchain, it could lead to more innovation and growth in the blockchain and cryptocurrency space.

Conclusion

The world of cryptocurrency is always full of surprises, and the rumor that Amazon is planning to launch its own NFT marketplace within 12 days is no exception. Although it is not yet confirmed whether this is true or not, it has already created excitement amongst crypto enthusiasts worldwide. If Amazon does indeed enter the NFT marketplace, it could be a game-changer and lead to more mainstream adoption of NFTs. We will have to wait and see if this rumor is true and what impact it will have on the crypto world.