When Will Amazon Launch Its NFT Project?

When Will Amazon Launch Its NFT Project?

According to four sources familiar with the matter, Amazon is rolling out its digital asset business, which they said an NFT initiative is expected to launch in the spring. Amazon has been shopping the digital collectibles effort to no shortage of power players in the industry, per multiple sources. These entities are said to include layer 1 blockchains, blockchain-based game developers and startups, and digital asset exchanges. The two sources said the focus is on blockchain-based games and related NFT applications. One example, the source said, is: forcing Amazon customers to play crypto games and claim free NFTs. The effort is still developing, sources said.

April appears to have been penciled in for the e-commerce giant to make its bold crypto ambitions public. Amazon “coming into the space” is “a big one” for crypto “for many different reasons, one source said. “We know it’s possible,” the source said. “But now it looks like it’s actually happening. It will affect existing actors in the space – if they do and do it right and smart about it. Amazon executives leading the push reached out to at least one family office in recent months, one of the sources said. At the time, the plan, in its earlier iteration, was to do at least one NFT drop with an artist, the same source said.