Retail Giant Amazon Plans New NFT Initiatives: Report - CoinGeek

Retail Giant Amazon Plans New NFT Initiatives: Report – CoinGeek

After years of speculation, retail giant Amazon is reportedly working toward non-fungible tokens (NFTs) in 2023. According to insiders familiar with the matter, Amazon’s foray into NFTs could be expected sometime in the spring as the firm makes a frantic effort for a slice of the pie.

Sources say Amazon has been in talks with several blockchain companies to partner for the NFT offering. The potential partners for Amazon’s NFTs range from blockchain-based gaming platforms, digital currency exchanges, and layer 1 blockchains.

It appears that gaming platforms might get the nudge over others, as Amazon’s NFT is said to lean heavily toward gamification. Users of the retail giants might be allowed to play blockchain-based games on the platform for the chance to win rare digital collectibles.

The NFT offering has been touted to run on the actual Amazon site rather than AWS, with insiders suggesting that a Web3 hiring spree is on the horizon.

“We knew it was possible,” one insider told Blockworks. “But now it seems like it’s really happening. That’s going to affect the existing players in the space — if they execute and do this right and are smart about it.”

Amazon’s sheer size of 98 million mo