Amazon poised to unveil NFT initiative in Spring


Amazon is reportedly set to unveil its NFT initiative in the Spring, joining the list of Fortune 500 companies.

The world’s largest online retailer plans to introduce a “digital assets enterprise,” according to a report published by Blockworks.

The programme would look to concentrate on blockchain-based gaming that pays gamers with NFTs, according to an unnamed source.

Amazon will manage to platform itself instead of handing it over to Amazon Web Services (AWS).

It is still unclear who is in charge of hiring the key staff.

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The move by Amazon to launch the scheme follows a recent agreement between AWS and Ava Labs, the organisation behind the Avalanche blockchain.

Ava Labs intends to bring Subnet deployment as a managed service to the AWS Marketplace, allowing users to quickly establish customised Subnets.

CEO of Ava Labs Emin Gün Sirer said that the ability to instantly set up nodes and test networks with AWS in whichever legal jurisdiction makes the most sense for them has been a significant advantage for both individual and business developers.

Amazon has already entered the NFT market with a television series called NFTMe, which examines NFT culture and disruption throughout the globe.



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