Could Amazon be Launching a New NFT Initiative?

Published at: January 31, 2023

It has been reported that the e-commerce giant, Amazon, could be the next Fortune 500 company to dabble in NFTs. As reported by Blockworks, the "world's largest retailer has been hovering on the edges of web3 tech for some time" and is planning to launch a "digital assets enterprise" (an NFT initiative) in Spring 2023.

According to NFT Now, the focus of this initiative will be on blockchain-based gaming to reward players with free NFTs as they play. This news will not come as a surprise for many as Amazon CEO, Andy Jassy, said in an interview with Squawk Box in April 2022 that he believed Amazon would be venturing into NFTs in the future and that "NFTs will continue to grow very significantly."

Little is known so far about Amazon's new NFT initiative and venture into the web3 world with most of the information stemming from anonymous sources, though the company will be releasing an NFT-based series, NFTMe, on Amazon Prime later this year. According to reports, this is still very much a developing effort at Amazon, though it looks as though we can expect to know more about what they've been building in April this year. 

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Emily Neale
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