Foreign media: Amazon is set to launch an NFT project in May, combining physical goods on a private blockchain.

Foreign media TheBigWhale and Blockworks both cited sources familiar with the matter, indicating that e-commerce giant Amazon is poised to launch NFT-related products, although the accounts from the two media outlets differ slightly.

15 NFT Projects

According to a report by TheBigWhale, Amazon is set to launch 15 NFT projects on a separate Amazon Digital Marketplace on April 24.

The Amazon Digital Marketplace will initially be available only to U.S. users and will gradually expand to other regions like Europe.

Insiders have stated that due to the FTX incident, Amazon's digital marketplace has been postponed twice, but barring any other unforeseen events, April 24 is the final date.

NFTs Integrated with Physical Goods

According to sources from Blockworks, Amazon will combine NFTs with physical goods, such as NFTs tied to jeans, with the shopping experience being no different from purchasing regular goods.

It is not yet clear which blockchain technologies Amazon will introduce. Insiders have mentioned that Amazon has considered various integration methods, has been in contact with different public chains, blockchain gaming companies, cryptocurrency projects, and ultimately plans to create NFT products on a private chain. They stated:

Amazon's NFT products are similar to Starbucks' previous Web3 project Starbucks Odyssey, attracting hundreds of users without the need for self-custody or understanding how to set up a MetaMask wallet.

Additionally, insiders described Amazon's private chain as a fairly centralized walled garden, set to launch no later than May this year, with Prime subscribers being notified via email upon release.

Past Crypto Integration Plans Rejected

In 2021, there were reports from foreign media suggesting that Amazon would accept Bitcoin payments and create its native token, which were promptly denied by the company. Earlier reports from Blockworks claimed that Amazon would launch an NFT project in April, which has now been postponed to May.

However, Amazon CEO Andy Jassy mentioned in an interview with CNBC in April last year that while he did not hold any cryptocurrency or NFTs, he was optimistic about their future developments. Amazon does not rule out the possibility of integrating with NFTs:

We have no plans to introduce cryptocurrency as a payment mechanism in our sales business, but I believe that over time, the crypto space will expand significantly, as will NFTs. I can imagine a future where Amazon integrates with NFTs, making it possible to sell NFTs on the platform.