Amazon has officially entered web3 with an NFT Marketplace scheduled to launch in April 2023. The leading global e-commerce platform is preparing to enlist 15 collections to debut its digital marketplace. Sources indicate that the platform will go live by the end of April (around the 24th). Will this new marketplace startle digital giants like Blur and OpenSea?
What To Expect From The Amazon NFT Marketplace
Global e-commerce giant Amazon is readying to officially introduce its digital marketplace later in April. The Amazon Digital Marketplace might be available in the United States via a tab on the Amazon website.
Furthermore, this platform aims to slowly expand to other areas, including Europe and the rest of the world. Although Amazon is yet to release official press statements surrounding this marketplace, here is what is available on the web about the upcoming marketplace.
Based on multiple sources, the launch date was postponed twice. But, it is now scheduled for April 24. The delay was caused by the FTX implosion and the drop in the global crypto markets and the persistent crypto winter.
At first, only United States users will access this platform. However, it will become available in other regions a few weeks later. Amazon has not ruled out sending email blasts to US-based Prime subscribers to promote the new platform. But, it is not yet known whether an Amazon token will be part of this deal since the back-end blockchain technology and the kind of private blockchain that Amazon wants to build are still unclear.
Interestingly, other sources say that there are also ‘phygital’ aspects to Amazon’s digital offerings. Amazon clients will be allowed to buy fashion-oriented NFTs linked to physical products like jeans and pay for them using their credit card similar to all other Amazon purchases.
It is also believed that the platform will primarily focus on blockchain-based gaming, where the users can earn nonfungible tokens (NFTs).
More About The Marketplace
Many sources indicate that Amazon aims to develop a private blockchain. But, it is not clear whether it will fork an existing protocol. It is also unknown whether an “Amazon token” will be included in the deal. One other source has described the setup as a “very walled garden”. Whatever the case might be, Amazon joining web3 at full speed is a promising sign for the entire sector.
On the flip side, there is a little controversy surrounding this brand. Amazon’s employee policy is exploitative sometimes. Camol (@camolNFT), marketing manager for Sappy Seals, was quick to point out Amazon’s open position for its Web3 Global Program Manager. This position gives the successful candidate $20-$28 an hour for a full-time position.
This might suggest a trend towards giant brands entering the web3 space, but remaining speculative about spending money and resources.
How the marketplace will be like and what it will offer its users only time will tell.