Amazon is reportedly gearing up to launch an NFT marketplace, likely dubbed “Amazon NFT Marketplace” or “Amazon Digital Marketplace,” that may be available to customers in April.
The NFT marketplace was first detailed by Blockworks in January, but details were scant—that same month, Web3 design company Ava Labs announced its partnership with Amazon on Twitter. While there’s been no official announcement from Amazon, The Big Whale reports that the NFT marketplace could be unveiled on April 24 and claims that it would’ve been released sooner if not for the massive collapse of crypto exchange FTX.
According to Yahoo News, Amazon customers will be able to purchase NFTs using debit or credit cards through their own Amazon account, or possibly even connect their own crypto wallet to their account as well. Blockworks explains that the NFT marketplace could have a focus on gaming, where users can play a blockchain-based game and win NFTs.
Amazon did not immediately return Gizmodo’s request for comment on details surrounding the marketplace.
Amazon missed the boat on the NFT boom, which peaked in 2021 before subsequently crashing that fall—The Wall Street Journal reported last Spring that NFT sales fell 92% from their peak in September 2021 while the number of active wallets fell 88% from its peak in November 2021. What little reputation crypto had left was also tarnished by the collapse of FTX, where CEO Sam Bankman-Fried is accused of moving $9.3 billion in customer funds to adjacent hedge fund Alameda Research, only to show up empty when those FTX customers wanted their money back.
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