Amazon will launch its NFT marketplace on April 24th.
Amazon is set to launch its own Non-Fungible Token (NFT) marketplace on April 24th, according to reports by TheBigWhale.
The e-commerce giant, which also specializes in cloud computing, online advertising, digital streaming, and artificial intelligence, will be joining the NFT market by providing space for these tokens.
It is believed that initially, there will be around fifteen collections available on the Amazon Digital Marketplace tab, which will only be available in the United States at first. However, the platform will eventually be accessible worldwide. Despite two recent delays, the launch is now set for April 24th, subject to any unforeseen events.
It is still unclear whether Amazon’s NFT marketplace will accept payments in cryptocurrency or only via credit card payments. The cryptocurrency industry is still relatively new, and the use of cryptocurrencies is yet to be fully adopted. However, the introduction of NFTs on the Amazon platform is a clear sign of the company’s willingness to embrace new technologies.
Amazon’s move into the NFT marketplace comes after eBay’s launch of NFTs on its platform in May 2021. eBay’s NFTs are available on an auction basis and can be purchased using fiat currency via PayPal and credit card payments. This approach is different from other NFT platforms that have entry barriers and utilize the Ethereum blockchain for payment, resulting in high gas fees.
In conclusion, Amazon’s launch of its NFT marketplace signifies the company’s readiness to explore the NFT market and embrace new technologies. Despite being delayed twice, the launch date of April 24th is set, and the platform will eventually be accessible worldwide.
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