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James Carter

March 29, 2023

Amazon Drops NFT Bombshell: Is It a Good Move?

According to an email that was sent to at least one of Amazon’s customers, the online retailing behemoth appears to have made its official entrance into the NFT fray.

Amazon Drops NFT Bombshell

The email suggests that Amazon has previously introduced a “digital token” that can be kept in a “gallery.” The digital tokens give the impression of being something that can be purchased and sold on the platform. Amazon has the option to lock and unlock the tokens in order to make them available for trading at any given time.

The email went on to say that in order for users to be able to advertise NFTs for sale, they will first have to “register as a reseller.”

CoinDesk was the first news outlet to reveal the information when an employee of the company received the email.

Amazon has not yet commented on the story, but in an interview from last year, the business’s CEO, Andy Jassey, alluded that Amazon has found NFTs to be interesting and that the corporation may be considering investing in them.

“I believe that non-traditional assets have really started to take off. According to what Jassey remarked at the time, “I anticipate that the growth of NFTs will continue to be quite large.” He went on to say that there is “a chance” that Amazon will begin selling NFTs at some point “down the road.”

Amazon Drops NFT Bombshell: Is It a Good Move?

The email that follows months of speculations regarding Amazon’s cryptocurrency aspirations and appears to confirm Amazon’s NFT strategy matches the rumors.

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There have been multiple unverified rumors in the media stating that Amazon is working on an NFT project. One of these reports suggests that the project may be a Web3 game endeavor where players may claim free NFTs.

According to yet another claim, Amazon is now working on an NFT marketplace. The story claimed that the marketplace would be launched on April 24 and that it would be called the “Amazon Digital Marketplace.” The report cited anonymous sources as its evidence.

There have been persistent rumors going around for weeks now suggesting that Amazon is getting ready to launch its very own NFT marketplace in the near future. Despite this, Amazon has not yet commented publicly on the reports.

The cryptocurrency news website Blockworks was the first to publicize the concept in January, attributing its information to unnamed sources. The new “digital assets enterprise” will reportedly have its primary emphasis on “blockchain-based gaming and related NFT applications,” as stated in the report. The cryptocurrency website The Big Whale subsequently issued a follow-up article earlier this month, in which it stated that the new functionality would go live on April 24. According to the report, which also cited unnamed sources, the NFT platform will be accessible on the website under a page labeled “Amazon Digital Marketplace.”

Amazon’s cloud-computing platform, Amazon Web Services, made the announcement in January that it will collaborate with Ava Labs to extend its enterprise blockchain solutions. However, there was no mention of any plans for NFTs or a digital collectibles marketplace at the time of the announcement.
A digital token was reportedly placed into a gallery that is hosted on the official Amazon website, as stated in an email that was sent to De. It would appear that the URL that was supplied in the email is not operational at this time.

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Moreover, resale options are discussed in the email, along with the clarification that the NFT will not be suitable for resale “until it’s unlocked.” In addition, the email stated that in order to list the NFT, De would first need to “register as a reseller.” However, the link that was supplied to the resale website appeared to not be working properly.

Amazon headquarters has never commented on any of the rumors or reports.