Amazon Plans to Launch NFT Platform in April
Following the recent partnership between AWS and Ava Labs, Amazon has announced plans to launch an NFT Platform in April.
Amazon Inc. has announced plans to launch its Non-Fungible Token (NFT) platform in April. Amazon’s entry into the world of NFTs and Web3 speculates that the nascent industry will be revived in 2023. The American technology company might bring a new dawn to the plummeting NFT economy. Since 2022, the majority of NFTs created have declined in value.
In an exclusive report, Amazon is set to launch a non-fungible token (NFT) marketplace on its website. Amazon will have 15 NFT collections on its platform at its debut. Users can access these NFT collections on Amazon’s website under the “Amazon Digital Marketplace” page. Amazon initially announced its venture into NFTs in January 2023. The company’s NFT plan would enable it to concentrate on blockchain-based games that will pay out non-fungible tokens to players.
Amazon Partners With Avalanche Network
Amazon’s announcement succeeds its recent partnership with Ava Labs, the developing team behind the Avalanche blockchain. Ava Labs plans to provide Subnet deployment as a managed service to the Amazon Marketplace, allowing users to create customized Subnets swiftly.
Last December, Amazon released a new documentary called “NFTMe” presenting non-fungible tokens. The documentary interviews artist, collectors, and industry experts worldwide, discussing their experiences with NFT. It showcases the impact resulting from the confluence between technology and art.
Meanwhile, Amazon has reportedly shown support to many popular NFT platforms. Creative NFT studio, Superplastic reportedly generated $20 million in Series A financing from Amazon and others. Due to its recent connection with AWS, the Avalanche network might get a beneficial push into NFTs. Avalanche became the first layer 1 blockchain to collaborate with Amazon in mid-January.