Amazon is working on a project that will improve the overall quality of the customer experience, and it will be centered on its NFTs.
Reports indicate (1) that the e-commerce behemoth is working toward linking NFT ownership to the actual delivery of items to clients.
Thanks to this new turn of events, Amazon’s first attempts to create a business dealing in digital assets have greatly improved.
There is a possibility that the Amazon NFT platform will go live on April 24th, and once it happens, the business intends to notify all Prime members in the United States.
Amazon aims to generate additional interest in non-fiat currencies (NFTs) as legitimate assets worth having by linking virtual assets to physical goods.
Customers can, for instance, pay for a fashion-oriented non-fungible token (NFT) tied to an article of apparel using a credit card. The identical idea applies, as well, to every other item type that is now up for sale.
The CEO of Amazon Shares His Opinion on the Anticipated NFTs
Andy Jassy, CEO of Amazon, made the following statement when speaking about the opportunities that are presented by the NFT scheme from a more general perspective:
“I anticipate that non-traditional trading will continue its extremely considerable growth. Over time, you’ll see crypto get bigger, and Amazon will likely start accepting crypto payments. Nevertheless, we’re probably not near adopting cryptocurrency as a payment method in our retail company.
Because Amazon has such a big client base, a program like this NFT might reach magnitudes that have never been seen before.
Moreover, an insider source discussed the anticipated scope of the endeavor as well as the possibility of its success, stating:
“We were aware that there was a possibility, but it appears it is now taking place. That will have an effect on the existing participants in the space – provided that they carry out their plans effectively, handle this situation appropriately, and are as astute regarding it as possible.
Even though the NFT launch is scheduled for the month of April, the timetable of the launch still appears to be in a state of perpetual flux. In the meantime, two additional people close to the company assert that Amazon will launch the program in May.
Amazon is now investigating a number of different possibilities for blockchain technology that will be used to support the NFT agenda.
According to reports, Amazon staff involved with the endeavor have already contacted various blockchain initiatives.
They include blockchains operating at the Layer-1 level, gaming platforms with a focus on blockchain technology, and other startups and existing businesses.
It is not yet apparent how Amazon plans to realize its goal of developing a private blockchain for its NFT program. Nevertheless, the company has made this objective one of its top priorities. The multi-national technology company’s interest in Web3 technologies has increased over the past year.
Documentary on the NFT
Amazon released a new documentary on NFT, featuring interviews with artists, enthusiasts, and industry experts worldwide.
Throughout the documentary, these people discuss the beneficial impact technology and art merging have had on their interactions with digital artifacts.
The documentary, which goes by the name ‘NFTMe‘ and is currently in its first season, has featured more than fifty guests, some of whom are Peter Rafelson and Cheryl Douglas.
In addition to its efforts, Amazon is financing several well-known NFT platforms. For example, the IT giant was a significant investor in the Series A funding of twenty million dollars that was received by NFT animation company Superplastic.