Advertise
CoinTrust
BTC
ETH
BCH
SOL
DOGE
SHIB
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • VPN Friendly Casinos
    • New Crypto Casinos
    • Offshore Online Casinos
    • Best Crypto Casinos Reddit
    • Bitcoin Poker
    • Bitcoin Betting Sites
    • Bitcoin Bingo
No Result
View All Result
CoinTrust
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • VPN Friendly Casinos
    • New Crypto Casinos
    • Offshore Online Casinos
    • Best Crypto Casinos Reddit
    • Bitcoin Poker
    • Bitcoin Betting Sites
    • Bitcoin Bingo
No Result
View All Result
CoinTrust
No Result
View All Result

Home » Amazon Taps Web3 Domain with NFT Project Plans

Amazon Taps Web3 Domain with NFT Project Plans

Kelly Cromley by Kelly Cromley
Jan 27, 2023
in Market News, News
Reading Time: 2 mins read
0

Amazon is entering the cryptocurrency sector for the first time. And the eCommerce titan is interested in non-fungible tokens (NFTs) rather than cryptocurrencies. According to a report issued by Blockworks on Thursday (January 26), the online store intends to roll out an NFT effort this spring. The revelation from the cryptocurrency sector journal claims many people acquainted with Amazon’s intentions, all of whom assert that Amazon has been studying the creation of digital assets firm on its principal platform, and not through Amazon Web Services (AWS).

Amazon, the world’s biggest retailer, has maintained a distance from the cryptocurrency business while investing in and achieving success with other upcoming digital commerce initiatives, such as online selling. Amazon’s arrival into the Web3 ecosystem might offer a significant boost to the legitimacy and vibrancy of a sector that is now at a crossroads.

RelatedPosts

Uzbekistan Launches HUMO Token Backed by Sovereign Bonds

Brave Wallet Integrates Cardano, Boosting Web3 Access

MicroAlgo Unveils Blockchain-Powered IP Protection Algorithm

0xmd Expands to Brazil in AI Healthtech Deal with SENAI CIMATEC

As initially disclosed by PYMNTS, the amount of newly issued NFTs has decreased by 60%, and the number of proactive traders is a third of what it was at the start of 2022. Individually, the sports shop Fanatics has gotten bored with NFTs and is presumably selling their controlling ownership in Candy Digital at a loss.

Amazon is hardly the only conventional institutional firm putting its boots into the NFT marketplace, notwithstanding industry obstacles. In recent times, Fidelity Investments submitted trademark applications for its native NFT platform.

A Fidelity Investments spokeswoman told PYMNTS via email that although it is early to discuss recently submitted trademark applications, they confirm the company’s reputation for innovation. According to reports, Amazon’s Web3 objectives include blockchain-based gaming and NFT memorabilia. Sources contacted by Blockworks say that an April rollout has been “penciled in” despite the fact that the initiative is still under creation.

Uncertain is Amazon’s intention to start a marketplace, but any efforts in that route by the Seattle-headquartered behemoth would cause ripples reverberating through industry stalwarts such as OpenSea or Rarible given Amazon’s size, scope, and influence.

Andy Jassy, the CEO of Amazon who succeeded founder Jeff Bezos, is no novice to the collectibles sector. According to the CEO’s profile, he served at MBI as a project manager for around five years following his graduation from Harvard University.

Amazon has not yet disclosed any details on possible recruits or the development of new internal teams to lead the NFT and blockchain gaming activities. Amazon’s Web3 goals are likewise cloaked in ambiguity. Jassy remarked in a CNBC Squawkbox interview in April 2022 that he sees NFTs in Amazon’s roadmap.

“I anticipate that the growth of NFTs will remain substantial. We’re likely not near to introducing cryptocurrency as a payment option for our retail company, but I think cryptocurrency will develop in the future and it’s feasible… it’s likely in the future,” he stated at the time. This seems to be the case currently, or at best this spring.

 

Previous Post

Life DeFi Wallet Integrates Polygon Blockchain to Promote Scalable Dapps

Next Post

Cookie Company Oreo Enters Metaverse by Partnering with Meta and Martha Stewart

Related Posts

uzbekistan launches humo token backed by sovereign bonds

Uzbekistan Launches HUMO Token Backed by Sovereign Bonds

by Kelly Cromley
May 13, 2025
0

Uzbekistan is preparing to introduce HUMO, a blockchain-based digital token backed by government bonds, as part of a broader strategy...

brave wallet integrates cardano, boosting web3 access

Brave Wallet Integrates Cardano, Boosting Web3 Access

by Kelly Cromley
May 13, 2025
0

Brave, a privacy-centric Web3 browser, has officially integrated the Cardano blockchain into both its native and standalone wallet applications. This...

microalgo unveils blockchain-powered ip protection algorithm

MicroAlgo Unveils Blockchain-Powered IP Protection Algorithm

by Kelly Cromley
May 13, 2025
0

MicroAlgo Inc. has introduced a blockchain-based intellectual property (IP) protection algorithm designed to overcome long-standing challenges in digital copyright enforcement....

0xmd expands to brazil in ai healthtech deal with senai cimatec

0xmd Expands to Brazil in AI Healthtech Deal with SENAI CIMATEC

by Kelly Cromley
May 13, 2025
0

0xmd, a global startup focused on Generative Artificial Intelligence (AI) for healthcare applications, has officially launched its operations in Brazil...

fireblocks joins calastone to advance tokenized fund distribution

Fireblocks Joins Calastone to Advance Tokenized Fund Distribution

by Kelly Cromley
May 13, 2025
0

Fireblocks has announced its collaboration with Calastone, the global funds network, to enhance Web3 connectivity within Calastone’s Tokenized Distribution solution....

promptale ai and orbler unite to revolutionize web3 engagement

PrompTale AI and Orbler Unite to Revolutionize Web3 Engagement

by Kelly Cromley
May 13, 2025
0

PrompTale AI has officially disclosed its strategic partnership with Orbler through its verified account on X (formerly Twitter), outlining a...

Next Post
Cookie Company Oreo Enters Metaverse by Partnering with Meta and Martha Stewart

Cookie Company Oreo Enters Metaverse by Partnering with Meta and Martha Stewart

  • blackrock invests in colle web3

    COLLE: Pioneering AI Web3 Platform Receives Investment Boost from BlackRock

    by Kelly Cromley
    May 13, 2024
  • Central Bank of Saudi Arabia Teams Up with Ripple to Transform Cross-Border Settlements

    by Kelly Cromley
    Aug 17, 2023
  • Router Protocol and OpenWorldSwap Partnership to Revolutionize DEX Market

    by Kelly Cromley
    Aug 6, 2024
  • GameStop’s Digital Transformation: Embracing Blockchain and NFTs

    by Kelly Cromley
    Feb 2, 2025
  • XRP Ledger Embraces Precious Metal-Backed Stablecoins with Meld Gold Partnership

    by Kelly Cromley
    Oct 2, 2024

Recent News

uzbekistan launches humo token backed by sovereign bonds
Market News

Uzbekistan Launches HUMO Token Backed by Sovereign Bonds

by Kelly Cromley
May 13, 2025
brave wallet integrates cardano, boosting web3 access
Market News

Brave Wallet Integrates Cardano, Boosting Web3 Access

by Kelly Cromley
May 13, 2025
microalgo unveils blockchain-powered ip protection algorithm
Market News

MicroAlgo Unveils Blockchain-Powered IP Protection Algorithm

by Kelly Cromley
May 13, 2025
0xmd expands to brazil in ai healthtech deal with senai cimatec
Market News

0xmd Expands to Brazil in AI Healthtech Deal with SENAI CIMATEC

by Kelly Cromley
May 13, 2025
fireblocks joins calastone to advance tokenized fund distribution
Market News

Fireblocks Joins Calastone to Advance Tokenized Fund Distribution

by Kelly Cromley
May 13, 2025

Categories

  • Altcoin News
  • Analysis News
  • Bitcoin News
  • Blog
  • Cardano News
  • Ethereum News
  • ICO News
  • Legislation News
  • Market News
  • News
  • Ripple News
  • Solana News

Cointrust

  • About Us
  • Contact Us
  • Correction Request
  • Our Team

Legal

  • Disclaimer
  • Terms & Conditions
  • Privacy Policy
  • Cookie Policy

Popular

  • ICO Listings
  • Knowledge Base
  • All about Mining
  • Cryptocurrency Exchanges
  • How and Where to buy Cryptocurrency

Sitemap

  • News section
  • Sitemap
  • XML Sitemap

© 2024 CoinTrust.com.

CoinTrustCoinTrust

* DISCLAIMER: All information provided in CoinTrust is merely for informational purposes, we are not an investment advisor and not affiliated with any companies or ICO/Cryptocurrency Projects. To use this website you must accept our cookie policy, Disclaimer and Privacy Policies.

No Result
View All Result
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • VPN Friendly Casinos
    • New Crypto Casinos
    • Offshore Online Casinos
    • Best Crypto Casinos Reddit
    • Bitcoin Poker
    • Bitcoin Betting Sites
    • Bitcoin Bingo

© 2024 CoinTrust.com.

We use cookies to ensure that we give you the best experience on our website.
If you continue to use this site you agree to allow us to use cookies, in accordance with our Cookie Policy.
I Agree