Amazon to launch NFT initiative this spring


Amazon, one of the world’s largest online retailers is reportedly launching a non-fungible token this spring. The company is said to focus on play-to-earn games, a type of blockchain-based games that allow players to earn cryptocurrency by participating in the game.

Blockworks reported that Amazon is planning to launch a digital assets enterprise, as soon as April. The giant seems to be open to the idea of entering the web3 world, as it’s CEO Andy Jassy, declared last year: “I expect that NFTs will continue to grow very significantly. We’re not probably close to adding crypto as a payment mechanism in our retail business, but I do believe over time that you’ll see crypto become bigger.” He added that selling NFTs on Amazon “is on the way.”

The giant has been exploring partnerships, including with Ava Labs, the company behind Avalanche network, a decentralized platform for building and deploying blockchain applications. Ava Labs announced on 11 January it has joined forces with Amazon Web Services (AWS) to accelerate enterprise, institutional, and government adoption of blockchain.

Meanwhile, Amazon Prime Video features a documentary series about NFT & Crypto industry, called NFTme. “Web 3.0 brings a new mindset, immense creativity, new technologies & new ways of doing business. Delve into the digital realm, experience the art, the hype, the metaverse & all the superstar creators,” reads the series description.

Lately more and more companies have joined the Web3 world, including Amazon’s rival eBay, which partnered in May 2022 with web3 NFT platform OneOf. At the time, Dawn Block, vice president of collectibles, electronics and home at eBay, said: “NFTs and blockchain technology are revolutionizing the collectibles space, and are increasingly viewed as an investment opportunity for enthusiasts. Through our partnership with OneOf, eBay is now making coveted NFTs more accessible to a new generation of collectors everywhere.”