• Amazon is reportedly launching an NFT initiative in Spring 2023.
• The initiative will focus on different sectors, including gaming and rewards for Prime subscribers.
• The platform will be developed and could run on Amazon proper instead of AWS.

Big tech giant Amazon is taking a major step into the world of cryptocurrency by launching a non-fungible token (NFT) initiative sometime in Spring 2023. According to sources from crypto news outlet Blockworks, the company has partnered with over ten crypto projects to support the initiative, which could potentially revive the sector following a decline in the NFT market from its 2021 high.

The initiative will focus on various sectors, including gaming, and is anticipated to reward Prime subscribers with unique items in the form of NFTs. Amazon already offers its Prime service subscribers access to a gaming platform, through which members can access the platform’s catalog and receive monthly rewards to claim AAA games. The potential addition of an NFT initiative could further bolster the service by offering more rewards and attracting more users.

The report also claims that the NFT platform is currently under development and could run on Amazon proper instead of Amazon Web Services (AWS). This could be a major move for the e-commerce giant, who could reveal further information about the initiative in April 2023.

Amazon is far from the first big tech company to enter the crypto space. Microsoft, Facebook, and Google have all taken steps to embrace cryptocurrency technology and further its development. According to the Blockworks report, Amazon’s move could further solidify the company’s position in the crypto industry and make it a major player in the space.

It remains to be seen how the NFT initiative will progress and what impact it will have on the current crypto landscape. However, Amazon’s move could potentially reignite the sector and bring more attention to digital assets and blockchain technology.