Set foot in the NFT arena: tales have it that Amazon’s possible major advantage for novice authorities and blockchain joining is around the bend.

Moritz, a fan of Web3 and collector of non-fungibles, claims that Amazon will open its NFT marketplace by May 15.

Amazon remains tight-lipped

The world’s largest online retailer has kept quiet about the rumors and has not made any official statements about them.

Subtleties of an Amazon NFT commercial center originally surfaced from Blockworks back in January — expressing the stage will zero in on blockchain gaming and related in-game NFT collectibles.

From that point forward, different outlets have added to the subtleties, including Yippee Money (YF), which referenced connecting non-fungibles to actual items for conveyance and having 15 assortments to exchange by the day for kickoff.

Additionally, YF stated that Amazon accounts could function as NFT wallets, obviating the requirement for specialized crypto wallets like MetaMask. If this is true, it suggests that new collectors will be prioritized over cryptocurrency and NFTs experts.

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Other rumors

Moritz acknowledged that there are no official details available, indicating that “nothing is 100% confirmed yet.” However, he gathered data to create a comprehensive guide to what to anticipate.

He stated that, like any other Amazon purchase, NFTs could be paid for using standard payment methods. In a similar vein, as previously stated, the NFTs can be stored in the user’s Amazon account.

“You won’t need any technical know-how about the blockchain or self-custody wallets, just an Amazon account.“

Additionally, he asserted that Amazon would launch its own private blockchain that is compatible with Chainlink, Ethereum, and Avalanche, with plans to incorporate additional blockchains in the future.

The “Amazon Digital Marketplace” platform will initially debut in the United States. Be that as it may, a possible worldwide rollout is normal.

Moritz concluded that Amazon has a greater potential for success with NFTs than Coinbase, particularly considering that Amazon is geared toward an untapped client base, by comparing Coinbase’s 9 million monthly active users to Amazon’s significantly larger 197 million.

“Amazon doesn’t only has [sic] far more users, but they also have a completely different audience.

And they come with a solution that makes the user experience far better (most people don’t want self-custody).“

Even though Moritz predicted that the Amazon Digital Marketplace would get off to a slow start, he still thought it was a big step for the cryptocurrency industry, calling it “a huge step for our space.”