Amazon Reportedly Plans to Launch an NFT Marketplace, Coming in April

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Tech giant Amazon reportedly plans to launch an NFT marketplace, coming on April 24

Amazon users will be able to purchase NFTs by paying with credit cards.

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Amazon Reportedly Plans to Launch an NFT Marketplace, Coming in April

Tech giant Amazon reportedly plans to launch an NFT marketplace. According to The Big Whale, the marketplace will go live on April 24.

Amazon’s web page dedicated to non-fungible tokens will be available through a tab named “Amazon Digital Marketplace.” In April, it will only be available for United States-based users. Following this, the initiative will be launched in Europe and the rest of the world. 

To start, Amazon’s marketplace will host 15 NFT collections. However, at the moment of writing, there is no precise information about featured artists or projects. 

Token purchases will only be available for users that have Amazon accounts. Notably, individuals will be able to pay with bank cards. The company chose this payment option to facilitate the utilization of the platform, as customers might find traditional crypto wallets like Metamask too complex.

The organization will reportedly launch its marketplace on a blockchain platform that is not compatible with Ethereum. If so, creators that want to mint NFTs on Amazon’s platform will have to develop bridges. If launched right, Amazon’s NFT marketplace could boost the adoption of non-fungible tokens and blockchain and bring development into the industry.

Generally speaking, the company is not new to NFTs. In February of this year, Amazon’s Alexa Fund led the Series A round of the toys and NFT creator Superplastic. The fundraising came alongside a deal between the two – the companies plan to collaborate on an animated comedy series, “The Janky & Guggimon Show.”

Amazon has also recently registered several web3-related trademarks – however, the application is focused on artificial intelligence tech applied to web3. 

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Valeria Goncharenko

Valeria is an Italy-based writer passionate about web3 and innovation. She is getting her second major in International Business Management while dedicating her spare time to photography and fashion. You can contact her at [email protected]

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