Amazon to launch NFT platform and tie NFTs to real-world assets

Amazon is busy enabling customers to buy NFTs connected to real-world assets. The move is undeniably a noteworthy update from the e-commerce leader, as it is planning for its own NFT platform. Moreover, the firm is looking forward to informing all customers of Amazon Prime, at least in the US, regarding the digital collectibles initiative after it goes live.

For example, an Amazon customer would be allowed to buy a fashion-based non-fungible token connected to a pair of jeans. They can easily make the payment using their credit and debit cards, similar to how they pay for other Amazon products.

The launch looks like being in a flux; however, according to the Big Whale’s report, the date is set for April 24. Then there are other sources who shared the launch to take place in May.

According to a source, Amazon is looking forward to notifying about the digital collectibles through emails to US-based Prime subscribers. But another source shared that the firm is planning to inform Prime customers either before or when the product is live.

A source mentioned that millions of users can be welcomed without teaching individuals about self-custody and how to set up a MetaMask wallet. As of now, in the USA, Amazon has over 167 million Prime members.

Amazon probably has considered various options for integration ever since it has started to work on the initiative. The company’s representatives have contacts with layer-1 blockchains, blockchain gaming firms, as well as other evolving and renowned digital asset projects. Amazon has either hired or is keen to hire or collaborate with dozens of Web3-based developers.

The company wanted to build a kind of private blockchain. It is not clear if Amazon Token will be involved in the deal, with one of them dubbing the setup like a “very walled garden.”