A suspected NFT initiative appears to be paving the way for e-commerce behemoth Amazon to join the Web3 community.
Although the corporation hasn’t released all the information, insider sources claim that it will begin this spring. In order to assist its plans to develop a business focused on digital assets, the company has been looking into possible partners.
A number of layer-1 blockchains, gaming businesses, and digital asset exchanges are being investigated by the organization. In addition to looking at local developers. However, it is increasingly apparent that the corporation is concentrating its efforts on “blockchain-based gaming and associated NFT applications.” One component of the program, according to sources, is to allow Amazon users to participate in cryptocurrency games and earn free NFTs.
Starting in April, the corporation is anticipated to be transparent about its plans. According to a different source, this will have a significant impact on the entire crypto industry. Many current participants will feel the heat if Amazon joins the Web3 space, “if they execute, do it correctly, and are clever about it.”
Company executives are thought to have recently contacted at least one family office to get things started. At least one NFT drop with an artist was originally planned, but these plans have dramatically changed.
For the first time, Amazon is experimenting with cryptocurrencies
The business has in the past advertised positions for engineers and developers in the Web3 industry through its web hosting service. Recently, the company announced a relationship with the Avalanche blockchain to further strengthen its position through its web services division.
Nevertheless, the business has been developing its own coin scheme since 2013 more as a customer loyalty program than a cryptocurrency project. In the future, it will be interesting to observe what this NFT project entails, who will be in charge of it, and how it will affect the overall business.