Amazon is working on NFTs, teases its introduction in an email

The e-commerce and cloud computing conglomerate is currently working on a Non Fungible Token (NFT) related project. According to reports, after a subscription renewal for Prime Video, a streaming service of Amazon, the user received a confirmation email which read that digital token is now available in the gallery of the user. Moreover, the mail reads that the user can only sell the NFT after registering as a reseller.

News has been running since January where different rumours had emerged over Amazon entering into the NFT market. This email confirms the company’s plan and also it is getting introduced at a quick pace. Earlier reports have revealed that Amazon will look to tie their NFTs to real world assets and can be launched in April 2023.

Amazon’s entrance into the NFT market could be a milestone in Blockchain and Web3 technology. Amazon NFT will allow the people to buy the digital tokens who do not have crypto wallets. Amazon’s NFT is also in sharp contrast with Meta’s plans on the digital token market. It is reported that Meta will phase out its NFTs strategy on Facebook and Instagram. Similarly, Indian crypto exchange, WazirX, closed its NFT marketplace. Globally, NFT sales have plummeted after making headlines at the start of 2022. As a result, digital marketplaces are shutting down.