- American e-commerce giant Amazon is getting ready to sell NFTs on its website.
- About 15 NFT collections will be available for trade at launch.
- Amazon’s “Digital Marketplace” for NFTs could be launched on April 24.
American tech giant Amazon is reportedly set to launch its digital marketplace for NFTs next month. The news broke in most outlets on Tuesday, with the kinds of Yahoo Finance saying, “Amazon Is Poised to Dip Its Giant Toes Into NFT,” which is “likely to be dubbed “Amazon NFT Marketplace” or “Amazon Digital Marketplace.”
More news outlets said that Amazon had announced that it was launching the digital asset marketplace on April 24.
Amazon’s NFT Marketplace
Just as the crypto market is recovering from 2022’s crypto winter, the leading e-commerce company in the world has renewed its faith in the future of Web3.
According to the report by the Big Whale, Amazon’s marketplace could be unveiled at the end of next month. An excerpt from the statement read:
“The countdown has begun for Amazon. After months of development and some delays, the world leader in e-commerce will launch its NFTs platform. According to our information, it will be online on April 24.”
It is said that the NFT trading platform will be available on Amazon’s website through a tab named “Amazon Digital Marketplace.” According to reports, the account will only be general to United States clients in the beginning, with the platform gradually opening to the rest of the world, starting with Europe.
According to Yahoo News, the NFTs would be purchased from the marketplace through a user’s Amazon account using credit or debit cards. The customers will also be able to buy the NFTs by directly connecting their crypto wallets to their accounts.
Blockworks first detailed Amazon’s NFT marketplace in January, but the details needed to be more detailed. The same month, Ava Labs, a Web3 design company, announced its partnership with the e-commerce giant. The announcement, made through a Twitter post on January 11, said that Ava Labs was “joining forces with Amazon to help enterprises and governments build compliant blockchain solutions.”
In August last year, Amazon Web Services also partnered with public blockchain VeChainThor intending to deliver blockchain-based carbon management services.
Amazon Joins Other Tech Giants Meta And Google In The Web3 Space
Amazon missed the 2021 NFT boom before its subsequent collapse in 2022. NFT sales fell 91% in the Spring of 2022 from their all-time high (ATH) in September 2021, while the number of active wallets fell 88% from its peak in November 2021.
The trading volume on OpenSea, the world’s most prominent NFT marketplace, plunged as much as 99% within three months during the same year. Similarly, the number of users on Opensea plummeted from around 49,500 in January 2022 to 25,490 on August 29, with daily transactions plummeting 34.5% over the same period.
The collapse of Sam Bankman-Fried’s crypto empire FTX took with it what little reputation digital assets had left. This sent crypto and NFT prices plunging further toward the end of last year.
Despite this, Amazon has decided to enter the unpredictable world of NFTs with its new marketplace. TheBigWhale reported that after a series of delays, Amazon is gearing no move ahead with the launch and was considering an email campaign to promote the new digital asset marketplace.
It is important to note that there is no official announcement or comment on details surrounding the marketplace from Amazon.
