Amazon is gearing up to enter the NFT market with a new gaming initiative


Amazon NFTS

According to reports, Amazon is aiming to get involved in games based on NFTs and Web3 technology through an upcoming initiative related to digital assets.

The world's largest retail companies plan to launch a "digital asset business" to focus on non-fungible tokens (NFTs) and web3 games in the spring of this year, the news site reported on Thursday. Blockworks, citing 4. Anonymous sources are aware of giant Amazon's aspirations and future plans.

According to the aforementioned report, the Amazon initiative is still at a relatively early stage in the development process, and the company plans to make an official announcement next April. The online shopping giant also has a number of potential partners, including several leading blockchain networks, blockchain-based gaming startups, developers, and digital asset exchanges.

As noted in the report: “One of the examples being worked on, according to one of the sources: Amazon customers are pushing into crypto games to get free NFTs while playing." The source added that the Amazon executives spearheading this initiative have reached out to at least one family business In the past few months, he also mentioned that they have coordinated with a famous artist to do a free distribution of NFT tokens in partnership with them.

It should be noted that Amazon has been publishing applications for the employment of developers and engineers in the world of third-party web technologies (Web3) since 2021; At the time, the company was posting a job advertisement for a "Cryptocurrency and Blockchain Project Leader" with a deep understanding of digital currency technical systems.

In April last year, Amazon CEO Andy Jassy told CNBC his optimism about the future of digital currencies and the field of non-fungible tokens (NFTs); He said - at the time - that the online e-commerce giant was not looking to add a way to accept payments via cryptocurrencies, but said he "believes that over time, digital currencies will play a bigger role".

“I expect the NFT industry to continue to grow exponentially,” Jassy added, adding that he can see the day when the e-commerce giant sells NFTs to its customers in the future.

It should be noted that it was reported - recently - that Amazon - through Amazon Online Services (AWS) - entered into a "joint cooperation" with Ava Labs to accelerate the adoption of blockchain technology in various areas, such as hears the business - via AWS Enables one-click transaction audit contract deployments to support Avalanche blockchain infrastructure as well as DApps.

In addition to the giant Amazon, a number of other major companies have announced their ambitious expansion plans in the areas of NFT tokens as well as other digital currencies over the past year.

Last November, a patent filing revealed Sony's vision of a technical system that can be used to track the issuance, use, and transfer of digital assets created in-game. The patent refers to " a system for creating and/or (modifying, tracking, documenting, transferring unique digital assets)" related to the video game industry.

Fidelity, the investment giant, has also hinted at its intention to delve deeper into aspects of digital currencies, Web3, and related technologies, registering three new trademarks which were registered and filed in December last year. , which focus on both sectors. NFTs and virtual worlds in the Metaverse.

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