Amazon Takes A Leap Into Web3 With New NFT Initiative - NFT Plazas

Amazon Takes A Leap Into Web3 With New NFT Initiative – NFT Plazas

E-commerce giant, Amazon, looks set to enter the Web3 realm thanks to a rumored NFT initiative. The company is yet to disclose the full details, but sources in the know say it will kick off this spring. The company intends to launch a digital asset enterprise, and to support this, has been shopping for potential partners to help it on its way.

The company is exploring various layer-1 blockchains, gaming startups, and digital asset exchanges. In addition to eyeing developers within the realm. That said, it’s becoming clear the company’s efforts are focused on “blockchain-based gaming and related NFT applications.” According to sources, one aspect of the initiative is to let Amazon customers play cryptocurrency games and claim free NFTs for their efforts.

The company is expected to make its intentions clear starting in April. Another source believes this is going to be a big deal for the entire crypto space. If Amazon enters the Web3 space, then many existing players are going to feel the heat, “if they execute, do it right, and are smart about it.”

To get the ball rolling, company executives are believed to have reached out to at least one family office recently. Initial plans involved doing at least one NFT drop with an artist; however, these plans have evolved significantly.

Amazon Is Exp