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Amazon recently announced the launch of its upcoming NFT marketplace that will be hosted on the private blockchain. However, it has not ruled out the possibility of any compatibility with several other blockchains in the future.
The NFT or non-fungible token marketplace is most likely to explore art and other valuable work by leading NFT artists, including Beeple, and showcasing collections such as Pudgy Penguins. The marketplace is designed for around 300 million clients around the world.
According to relevant sources who are familiar with this matter, the NFT platform has already been delayed several times as it was originally planned to be launched in Quarter 4 of 2022.
Amazon informed at least two significant partners that multichain functionality would not be included at this launch. This means that purchasers will not be allowed to transact or move their virtual assets on the blockchain provided by Amazon.
The sources also provided conflicting accounts on whether the company has any future plans to launch such functionality that can substantially increase liquidity for NFT users on multiple blockchains.
According to a relevant source, Amazon will be encouraging all kinds of transferable and transactional activities. However, users will not be allowed to develop things like digital reputation or digital identity on the Amazon platform.
Representatives of Amazon reportedly got in touch with Americana NFT, which is a popular crypto start-up that offers a well-curated marketplace for superior digital collectibles. However, the efforts did not lead to any partnership. The NFT marketplace was expecting Amazon to seek intelligence to create its own marketplace. According to Wall Street Journal in July 2020, Amazon had partnered with start-ups before and subsequently implemented competing products.
Americana’s spokesperson stated that even though there were no direct discussions with the developer’s team at Amazon, they certainly met with Amazon Ventures back in 2022. Nevertheless, Americana is all set to implement its marketplace soon and expects a good future for Amazon and wishes them success as the platform enters the rapidly changing and developing Web3 community.