SNEAK PEEK
- Amazon’s In-House NFT Initiative Set to Feature Beeple and Pudgy Penguins.
- Amazon’s new initiative was reported in January.
- Amazon has revised its launch timeline multiple times.
According to recent reports, Amazon, an American multinational technology company, is putting the finishing touches on its own NFT market, which is anticipated to include digital collectibles from some of the best crypto-native producers, like Beeple and Pudgy Penguins. According to people familiar with the situation, a private and permissioned blockchain is reportedly being used by the e-commerce giant while it completes the platform.
Additionally, a study revealed that Amazon Web Services (AWS) was crucial in developing the private blockchain. These discoveries have prompted industry analysts to speculate about the potential consequences of the company’s entrance into the NFT market, even though there is no official confirmation of the status of Amazon’s NFT program.
According to the information that is currently accessible, Amazon’s NFT marketplace is anticipated to provide a unique platform for digital artists and producers to promote their work and earn money from it by selling NFTs. According to related sources, more security and transparency for buyers and sellers may be offered by deploying a private blockchain managed by Amazon.
It still needs to be determined how Amazon’s NFT marketplace will develop overall and if it will become a significant role in the expanding NFT ecosystem. Yet, the platform is sure to attract a lot of attention from collectors and enthusiasts, given the participation of well-known brands like Beeple and Pudgy Penguins.
Amazon’s new initiative was reported in January and has since seen further developments, including creating a private blockchain on March 3. However, sources close to the project have revealed that Amazon has revised its launch timeline multiple times, making it difficult to pinpoint an exact release date.
