Amazon to launch NFT marketplace next month, what can we expect?

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The Amazon BOS27 Robotics Innovation Hub in Westborough, Massachusetts on November 10, 2022. - Nothing is a matter of chance at Amazon. The robotics laboratory of the US e-commerce giant is developing the automation of its distribution centers around the world so that customers receive their orders efficiently in the shortest possible time. Delivering the Future
NFT fans will be able to purchase the digital collectibles with their own Amazon account via debit or credit cards. Photo: Joseph Prezioso/AFP · JOSEPH PREZIOSO via Getty Images

Amazon is set to launch its own NFT marketplace next month, with the option of having digital collectibles linked to physical goods delivered to customers’ doorsteps, according reports.

The details so far state that the marketplace will have 15 NFT collections available on launch for US-based customers, before expanding worldwide.

NFT aficionados will be able to purchase the digital collectibles with their own Amazon (AMZN) account via debit or credit cards.

This will allow those who do not have access to a crypto wallet, such as Metamask, the ability to buy NFTs without having to purchase cryptocurrencies like ethereum (ETH-USD).

According to reports the Amazon NFT marketplace could be called either 'Amazon NFT Marketplace' or 'Amazon Digital Marketplace'.

Web3 media outlet The Big Whale reported a date of April 24 for the launch.

NFTs linked to physical goods delivered to doorsteps

After the initiative is launched, Amazon shoppers will be able to purchase fashion-oriented NFTs that are linked to physical clothing, such as jeans, trainers and sweatshirts, according to a report.

These NFTs will be delivered to customer NFT accounts whilst the physical piece of clothing is being delivered to customer doorsteps.

One clothing company that has been at the forefront of linking NFTs with their physical produce is Nike.

Nike (NKE) acquired the virtual assets company RTFKT in 2021, which was integrated into the new "Nike Virtual Studio" to unleash a series of Nike-branded NFTs.

An example of this is Nike's Dunk Genesis CryptoKicks NFT range that is linked to the apparel retailer's 'real-world' Dunk sneakers.

Amazon NFT initiative has been in development for months

Jeff Bezos' tech and online retail multinational has been taking progressive steps towards incorporating more Web3 features into its platforms.

Back in January, crypto news outlet Blockworks reported that the world's largest retailer was launching a digital assets enterprise involving NFTs.

According to the January report, four sources told Blockwork's that an Amazon NFT initiative is expected to be made available to consumers worldwide in the spring.

In the same month Amazon Web Services (AWS) partnered with web3 firm Ava Labs in a bid to accelerate the adoption of blockchain technology.

NFT market slump and the FTX collapse

The launch of digital collectible services on Amazon was delayed following the collapse of Bahamian cryptocurrency exchange FTX in November 2022.