Amazon’s NFT marketplace can sell digital assets from Pudgy Penguins and other web3 companies. Under a confidential terms of service agreement, Amazon plans to operate its marketplace on a private blockchain. Additionally, media company Blockworks has investigated a secret Amazon filing confirming that Amazon Web Services created the private blockchain. So let’s take a closer look at what’s really going on.
Amazon to Launch NFT Market on Private Blockchain
Amazon’s NFT Marketplace can sell digital assets from Pudgy Penguins and other web3 companies using a private blockchain.
But how will this work? Well, users will be able to buy NFTs like any other product on Amazon. However, buyers will not be able to exchange their digital goods outside of the Amazon blockchain. Ultimately, Amazon’s goal is to use the platform to gain acceptance of Web3 for its 300 million active users.
According to the documents, the blockchain for Amazon digital assets is read-only and gasless. It is also restricted to Amazon developers, partners, and customers. Additionally, Amazon has entered into several covert launch deals and plans to use Twitch, Amazon’s streaming service, to promote the project. Amazon has also partnered with several cryptocurrency gaming companies to sell NFTs associated with their games.
As for the community, Amazon will reportedly provide partners with premium Discord memberships. Additionally, reports claim that the marketplace will provide members with access to a special club, behind-the-scenes encounters with musicians and celebrities, and exclusive deliveries of music, e-books, movies, and TV episodes. Amazon will also distribute physical products after customers purchase NFTs.
Amazon originally scheduled the debut of its NFT platform for the fourth quarter of 2022, according to sources. However, it has since been delayed. In fact, Amazon has modified its launch strategy several times. Pudgy Penguins, Beeple, Proof Collective and other companies linked to the project have yet to comment. Although, Amazon requires its web3 partners to sign confidentiality agreements.
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