Wednesday, July 24, 2024

Amazon to launch NFT trading platform in April

It will be possible to buy tokens only through an account on the retailer's website using a bank card

Amazon’s NFT marketplace will launch on April 24, according to TheBigWhale. Called Amazon Digital Marketplace, the service will initially be open to US users only, but will eventually be available to customers in other countries, including Europe.

For Amazon, the countdown has started. The leader in e-commerce will debut its NFTs platform after months of development and some setbacks. Our information indicates that it will be accessible online on April 24.

The technology, which Blockworks unveiled in January, will be accessible on the American juggernaut’s website under the “Amazon Digital Marketplace” banner. At first, this tab will only be accessible within the United States. Europe will eventually have access to the platform along with the rest of the world.

Our knowledge indicates that the demise of FTX caused the launch of Amazon Digital Marketplace to be delayed twice in recent weeks. In the absence of any fresh unusual events, April 24 currently appears to be the day.

When the site is launched, it will feature 15 NFT collections. It will be possible to buy tokens only through an Amazon account using a bank card. This payment method was chosen to make it convenient for customers to use the service in the traditional way, without linking crypto wallets like Metamask to it, the report says.

According to a number of insiders, Amazon has been courting major players in the market with its digital collectibles push. Layer-1 blockchains, blockchain-based game businesses and developers, and digital asset exchanges are reportedly included among those entities. According to two sources, there is an emphasis on blockchain-based gaming and associated NFT applications.

One source claims that one example is persuading Amazon consumers to play crypto games and earn free NFTs as a result.

Sources claimed that the effort is still in development. The e-commerce behemoth appears to have planned to announce its audacious crypto plans in April.

According to the sources of the publication, Amazon opted for a private blockchain platform that is not compatible with Ethereum to host the marketplace. Therefore, developers who want their NFTs to be available on the new site will have to use blockchain bridges (tools for transferring tokens between different networks).

The fact that Amazon is preparing to launch its own NFT platform was reported in early January. At that time, it was known that the American Internet retailer was considering launching blockchain games in which participants could receive digital tokens, and planned to conduct at least one NFT airdrop (free distribution).

While occasionally posting positions for developers and engineers in the Web3 industry, Amazon Web Services is less well recognized for its exploration of the cryptocurrency and blockchain sectors. After being introduced in 2013, the Amazon Coins program is still in operation, however it functions more like a standard loyalty program than a cryptocurrency project.

The CEO of Amazon, Andy Jassy, has previously said that the company is open to selling NFTs and that it is not blocking any cryptocurrencies.

The full scope of Amazon’s Web3 aims and ultimate objectives is also up for debate. It’s unclear if the company plans to take on rivals like OpenSea and Rarible, but two sources claimed both organizations would view

Page Visit Tracker
Visited Pages: 0 /
Please Wait 30 Seconds ⏱

Related Articles

Stay Connected


How One Trader Lost $12M on Biden Memcoin: A Cautionary Tale in the Cryptocurrency Market

Biden memcoin, Jeo Boden, cryptocurrency market, trader loss, political statements, cryptocurrency trading, memecoin investment, Biden announcement, financial loss, cryptocurrency risks, market sentiment, investment strategy, cryptocurrency trends, Doland Tremp, Super Trump, MAGA token, cryptocurrency diversification, volatile markets, cryptocurrency news, speculative assets
Have you ever wondered how a single decision can lead to a multi-million dollar loss in the...

Learn Crypto: Essential Resources for Cryptocurrency Enthusiasts

coinbase,revolut,atm crypto,crypto orca,gateio,degiro crypto,e credit crypto,ecredits crypto,cryptocurrency tickers,card coinbase,aioz crypto,aventus crypto,crypto rio,crypto tickers,raiffeisen crypto,revolut binance,bybit cryptocurrency,phemex trustpilot,hoge crypto,the block crypto,crypto com reddit,crypto com twitter,reddit crypto com,hex coingecko,shiba inu coin robinhood,jasmy price,crypto com luna,voyager crypto,top metaverse crypto,webull crypto,twitter crypto,best way to buy crypto,best place to buy crypto,buy crypto with debit card,crypto r us,hex coin price,shping crypto,kin crypto,free crypto instantly,propy crypto,crypto funding rates,buy crypto,buy crypto with credit card,circle crypto,paxos crypto,us crypto exchanges,yahoo finance crypto,goldman sachs crypto,crypto com token,jp morgan crypto,crypto com visa,neo cryptocurrency,crypto com visa card,looks crypto,cmc crypto,trias crypto,luna one crypto,buy luna crypto,terra luna classic crypto,hex crypto price,block crypto,uphold crypto,crypto com earn,top crypto companies,crypto com price,best crypto exchanges,r cryptocurrency,r crypto,binance leverage,crypto com apple pay,mbl crypto,crypto insiders,gecko crypto,stable fund crypto
The world of cryptocurrency is vast and ever-evolving, leaving many enthusiasts unsure where to begin their educational...

Latest Articles