Amazon is planning a new initiative involving non-fungible tokens (NFTs), according to sources familiar with the plans.
The initiative, which is said to be focusing on gaming, could be launched as early as April. Blockworks, a digital media company, reported that Amazon has over a dozen partners lined up for the project, and that the platform would be run out of Amazon rather than its subsidiary, Amazon Web Services (AWS).
NFTs are a type of digital asset that is unique and cannot be replicated or exchanged for an equivalent.
They are commonly used in the gaming industry to represent in-game items, such as weapons or vehicles, that have value to players. Amazon’s new initiative could involve a push to get customers to play crypto games and claim free NFTs.
This isn’t Amazon’s first foray into the world of NFTs. The company has previously launched its own NFT marketplace, called Amazon Collectibles, which allows customers to buy, sell, and trade collectibles such as trading cards and comics.
However, this new initiative is said to be a much bigger push into the world of NFTs, with a specific focus on gaming.
It’s worth noting that this report is based on unconfirmed information, and Amazon has not yet made any official announcements about the initiative.
However, the company’s interest in NFTs is not surprising given the growing popularity of the technology. With its vast resources and reach, Amazon could potentially become a major player in the NFT market if this initiative comes to fruition.
