Amazon’s NFT marketplace may sell digital assets from Pudgy Penguins and other web3 businesses. According to 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 presentation confirming that Amazon Web Services created the private blockchain. So, let’s take a closer look at what’s actually happening.
Amazon to launch NFT marketplace on private blockchain
Amazon’s NFT Marketplace may 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 just like any other product on Amazon. However, buyers won’t be able to exchange their digital goods outside of Amazon’s blockchain. Ultimately, Amazon’s goal is to use the platform to garner Web3 acceptance for its 300 million active users.
According to the documents, the blockchain for Amazon’s digital assets is read-only and gas-free. It is also restricted to developers, partners, and Amazon customers. Additionally, Amazon has begun several covert launch agreements, and it plans to use Twitch, the streaming service of Amazon, to promote the project. Amazon has also teamed with a number of cryptocurrency game companies to sell NFTs associated with their games.
As for the community, Amazon will reportedly provide partners with premium Discord memberships. Moreover, reports claim that the marketplace will provide members with access to a special club, behind-the-scenes meet and greets with musicians and celebrities, and exclusive drops of music, ebooks, movies, and TV episodes. Amazon will also distribute physical products after customers buy NFTs.
Amazon originally scheduled their NFT platform debut for the fourth quarter of 2022, according to sources. However, it has since been delayed. In fact, Amazon has altered its launch strategy several times. Pudgy Penguins, Beeple, Proof Collective, and other companies tied to the project, are yet to comment. Although, Amazon requires its web3 partners to sign non-disclosure agreements.