Amazon will be making its debut into Web3 this April with an NFT marketplace. Reportedly, Amazon’s NFT marketplace will be launched around April 24th. The top global e-commerce platform will be starting with 15 NFT collections.
As announced on the 26th of January, Amazon will center some of its efforts on breaking into NFTs and Web3. This shows the firm’s massive interest in what the future of the Web3 space will be. The CEO of Amazon, Andy Jassy, once stated that crypto payments might be accepted on the e-commerce platform in the coming years.
The Amazon NFT Marketplace will likely be integrated into the Amazon website; thus, becoming easily accessible to the e-commerce platform’s customers in the United States. Gradually, the NFT platform will be made available to users in Europe, Asia, and other continents.
Since Americans will be the first to enjoy this product, the e-commerce giant might employ several marketing techniques, including sending eblasts to its Amazon Prime users in the country.
Reports indicate that the NFT marketplace should have gone live a while ago. However, the ongoing crypto winter and the collapse of FTX have caused its launch to be postponed not once but twice!
Amazon might integrate blockchain-based gaming into the platform and will allow its customers to earn tokens. There are other claims that the Amazon NFT marketplace will have phygital features. Amazon users will be able to buy fashion-inspired NFTs linked to physical items and purchase them by using credit cards, similar to a traditional purchase on Amazon.
The company could also include an Amazon token; although it is unclear as there have been no official statements regarding the details of the marketplace such as which blockchain and type of private blockchain will be developed if any.
It is clear that the Amazon NFT marketplace, which has been described as a “very walled garden”, will climb up the ranks and compete with leading NFT marketplaces, like OpenSea and Blur.
While Amazon’s debut into Web3 calls for celebration, there are things to be concerned about – like the company’s exploitative employee policy. The e-commerce giant recently open a position for a Web3 Global Program Manager in Seattle.
What is shocking about the offer is that whoever is selected for the role will be paid $20-28 per hour for what will be a full-time position. It is easy to speculate that big companies and organizations are cautious about the magnitude of their efforts and resources directed into the Web3 space.