Amazon, the largest online retailer in the world, is reportedly in the final stages of its internal NFT program. According to recent reports, Amazon’s NFT marketplace will sell digital artifacts made by crypto-native businesses like Beeple and Pudgy Penguins.
The Blockchain and Terms of Service
Blockworks has discovered through confidential terms of service agreement that Amazon’s NFT marketplace will be run on a private, permissioned blockchain. The blockchain will be read-only, gas-free, and only accessible to NFT developers, partners, and Amazon customers once it is launched.
The authenticity of the blockchain has been verified by a secret Amazon presentation that claimed Amazon Web Services (AWS) contributed to its creation.
Launch Agreements and Partners
Amazon has inked several covert launch agreements, as per reports. One deck and a different source claimed that Amazon has informed product partners that Beeple and Pudgy Penguins will be joined on day one by Artifact Labs and Proof Collective.
However, the makers of Beeple and Pudgy Penguins did not reply to comments, and requests for comment from Artifact Labs and Proof Collective did not immediately elicit a response.
Web3 partners are required by Amazon to sign non-disclosure agreements, and the Amazon project will be promoted on Twitch, the streaming service of Amazon.com. Amazon has teamed up with several cryptocurrency game companies to sell NFTs associated with their games.
Premium Discord Memberships
According to reports, Amazon will offer premium Discord memberships to its partners, even though The Fabricant has its community. Brands can sell NFTs linked to specific Discord communities. Nevertheless, a Fabricant spokeswoman refused to comment on the matter.
Access to Special Club and Exclusive Drops
Amazon’s NFT marketplace will reportedly provide members with access to a special club, behind-the-scenes meet and greets with musicians and celebrities, and exclusive drops of music, ebooks, movies, and TV episodes. After Amazon customers buy NFTs, physical products will also be distributed.
Payment Methods and Release Date
Users can buy NFTs on Amazon like any other product, using accepted credit and debit cards, as well as other payment methods like one-click checkout.
Amazon stressed that its platform would lead to Web3 acceptance for its 300 million active users, according to three different sources with firsthand knowledge.
The launch date of Amazon’s NFT platform has been repeatedly delayed, but sources close to the project have revealed that it was originally scheduled to debut in the fourth quarter of 2022.
Liquidity on Various Blockchains
Amazon’s NFT buyers won’t be able to exchange their digital goods outside of Amazon’s blockchain at launch, as communicated to at least two partners. However, sources diverged on whether such a feature, which would increase NFT market liquidity on various blockchains, is planned.
Amazon’s upcoming NFT marketplace has already garnered significant attention from the media and the crypto community alike. The inclusion of Beeple and Pudgy Penguins on day one is a promising sign for the platform, and the reported access to a special club and exclusive drops adds another layer of excitement.
However, the lack of exchangeability of NFTs outside of Amazon’s blockchain at launch may be a cause for concern for some buyers.
Nonetheless, the launch of Amazon’s NFT platform will undoubtedly shake up the NFT market and push it toward greater mainstream adoption.
Follow us on our social networks and keep up with everything in the Metaverse!