Amazon

Amazon is reportedly building a digital marketplace that would allow users to purchase non-fungible tokens (NFTs) that are tied to real-world assets, according to three sources cited by Blockworks in a recent breaking article. According to the report, the physical assets that these NFTs will be tied to will be deliverable to each consumers doorstep.

https://mobile.twitter.com/Blockworks_/status/1632870436210987008

The sources gave the example that Amazon shoppers could purchase an NFT tied to a pair of jeans, then have those jeans delivered whilst maintaining ownership of the NFT. The sources added that shoppers will be able to get their hands on the NFTs using the same purchase methods as for buying anything else on Amazon.

Blockwork’s report comes after a similar report recently released by TheBigWhale alleged that Amazon is preparing to launch an NFT marketplace called “Amazon Digital Marketplace”. According to TheBigWhale, who cited their own sources, the marketplace will first be made available in the US before being expanded globally.

TheBigWhale reported that after a series of delays, including due to last year’s collapse of the FTX cryptocurrency exchange, Amazon is gearing up to launch the marketplace on the 24th of April. Sources speaking to Blockworks said a lunch would come this May, at the latest.

Amazon Could Onboard Millions of Users into Web3

According to Blockworks, Amazon is considering an email campaign to promote the new NFT marketplace, as well as notifying its 167 million Prime members in the US in some capacity.

Blockworks quoted one of its sources as speculating that Amazon “can onboard millions of users without educating people about self-custody, without educating people how to (set up) a MetaMask wallet”.

The source reportedly likened Amazon’s plans to the recent launch of Starbucks’ loyalty program, which utilizes Ethereum layer-2 scaling protocol Polygon.

Amazon to Launch a Crypto Token?

Multiple sources told Blockworks that Amazon wants to run its NFT marketplace on some form of private blockchain, which could be created as a fork of an existing protocol.

A number of sources said that they are unsure as to whether the launch of an Amazon digital marketplace on a private blockchain would also see Amazon issue launch its own crypto token.

Either way, the launch of a new Amazon digital marketplace would mark a massive step forward for crypto and fresh milestone in the nascent technology’s broader adoption.

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