Amazon is gearing up to enter the NFT space in a big way with a new initiative that could bring millions of users into the fold. According to sources familiar with the matter, the e-commerce giant is planning to launch a platform that will allow customers to purchase NFTs tied to real-world assets that are delivered right to their doorstep. And with Amazon currently boasting approximately 167 million Prime members in the USA, the potential impact of this new initiative is enormous.
What’s particularly interesting about Amazon’s move is that the company plans to onboard users without educating them about self-custody or requiring them to set up a MetaMask wallet, sources said. Instead, shoppers will be able to purchase NFTs using a credit card, just like any other Amazon purchase. This development could help to bridge the gap between digital and physical ownership, making NFTs more accessible to a wider audience.
The timing of the launch is not yet clear, although one report suggests it could be as early as April 24. Amazon has declined to comment on the matter, but representatives for the company are said to be working with layer-1 blockchains, blockchain gaming companies, and other types of both emerging and established digital asset projects. Amazon’s intention is to create some type of private blockchain, multiple sources said, although it’s not yet clear whether that will come about via a fork of an existing protocol.
All in all, Amazon’s move into the NFT space is significant and could have far-reaching implications for the industry. By making NFTs more accessible to a wider audience, the company could help to drive adoption and bring the concept of digital ownership to the mainstream.