Amazon 🛒 to jump into the NFT Space 🪐

GM Guys and Gals,

Every other Big Giant is trying to get their hands dirty and dive into the web3 space. The Ecom OG Amazon is all set to sneak in and jump into the ocean of NFTs. Here’s Amazon’s Web3 Plan [👇🏻]

Amazon, the e-commerce giant, is reportedly launching a “digital assets enterprise” this spring to enter the NFT space. Amazon’s focus on the web3 worlds seems to be growing, with exciting news as Amazon entered more than one industry in previous years.

What is Amazon launching in the NFT space?

Amazon’s NFT initiative needs to be defined later on, but it will reportedly be a “digital assets enterprise.” The focus of the initiative is expected to be on blockchain-based gaming that rewards players with NFTs.

The company has also been looking at digital collectables and other web3 products such as layer-1 products, blockchain gaming startups, and digital asset exchanges. The public expects to learn more about Amazon’s NFT plans over the coming months.

Who is Amazon partnering with?

Amazon partners with Ava Labs, the company behind the Avalanche blockchain. In a press release, Ava Labs announced plans to add a Subnet launch for Amazon’s NFT plans. This move certainly highlights the growing interest in blockchain technology by major companies in a wide range of industries.

Furthermore, the addition of Ava Labs’ technology makes it easier for businesses to access and utilize blockchain technology. Additionally, this partnership will enable individuals to use custom Subnets dedicated to the NFT initiative.

A significant jump from the e-commerce giant into the NFT world, creating high expectations for the retail giant to make a name in the web3 space 🚀

That’s it for the day, Web3Shala 👋

To the Moon 🚀