Amazon launches its own NFT marketplace

Technology company Amazon plans to launch a full-scale program dedicated to digital assets and non-fungible tokens this spring.

America's premier online marketplace will open a service for customers to collect digital collectibles by playing blockchain games and link them to the company's other apps.

So far, the program is in development, however, as reported, in April, Amazon will make a full announcement of its plans.

“Amazon’s entry into the cryptocurrency market is a big event for the industry for so many reasons.. We thought it would happen, but now we have confirmation. If the company does everything right, it will have a significant impact on the industry and its players, ”says a Blockworks source.

The source added that the tech giant was going to announce an NFT project with a well-known artist, but plans changed.. The upcoming project will reportedly use a different platform to run, rather than the familiar Amazon Web Services (AWS) used by other company services.. The company intends to seriously compete with existing NFT platforms such as Rarible or OpenSea.

Previously, the cryptocurrency company Ava Labs entered into an agreement with Amazon, under which users of the AWS cloud service will be able to deploy Avalanche blockchain nodes faster.