Amazon is doing the final touches on its in-house NFT initiative according to sources familiar with the matter. And at least one document suggests that Amazon will feature Non-Fungible Tokens (NFTs) from top crypto-native collectors such as Beeple and Pudgy Penguins.
The Amazon NFT marketplace will run on top of a private and permissioned blockchain run by Amazon, and Amazon Web Services (AWS) has played a great role in its formation.
NFT Signals exclusively revealed the launch of the Amazon NFT initiative in January and its additional developments in March. Sources indicate that Amazon has shifted the launch date of the initiative severally, and the exact launch date could not be verified.
The blockchain behind the Amazon digital collectibles will be read-only and gas-less and will impose strict restrictions on NFT creators, partners, and even Amazon customers after its launch.
Multiple sources have also indicated that Amazon has entered into many partnerships for the launch that have been kept under tight wraps. Some of the sources have indicated that other than the day-one partnerships with Beeple and the Pudgy Penguins creator, Amazon has revealed to product partners that Artifact Labs and Proof Collective will be involved.
Amazon has also created strict non-disclosure agreements around its partnerships with both current and future partners.
Amazon Tapping Subsidiary Streamer Twitch
Streaming service Twitch, the subsidiary of Amazon.com that reportedly laid off some of its staff in March, will take part in promoting the Amazon initiative. Many crypto gaming companies have either signed partnerships or discussed with Amazon to sell NFTs connected to their titles on the marketplace.
For example, a Web3 game developer can sign up with Amazon to sell an NFT to the site’s customers, which in turn grants the customer access to play the game via Amazon and stream it live on Twitch.
Some sources have also indicated that Amazon emphasized that its NFT marketplace will promote the adoption of Web3 for its 300 million active customers, which supports the idea that the platform is designed for its 300 million customers.
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