Amazon launches its own NFT marketplace

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Technology company Amazon plans to launch a full-scale program dedicated to digital assets and non-fungible tokens this spring.

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A major US online marketplace will open a service for customers to collect digital collectibles by playing blockchain games and link them to other company applications.

So far, the program is in development, however, as reported, in April, Amazon will make a full announcement of its plans.

“Amazon’s entry into the cryptocurrency market is a big event for the industry for so many reasons. We assumed that this would happen, and now we have received confirmation. If the company does everything right, it will have a significant impact on the industry and its players, ”says a Blockworks source.

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The source added that the tech giant was going to announce an NFT project together with a well-known artist, but plans changed. The upcoming project will reportedly use a different platform to run, rather than the familiar Amazon Web Services (AWS) that other company services use. The company intends to seriously compete with existing NFT platforms such as Rarible or OpenSea.

Previously, the cryptocurrency company Ava Labs entered into an agreement with Amazon, under which users of the AWS cloud service will be able to deploy Avalanche blockchain nodes faster.

Source: Bits

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