Amazon can pursue crypto, NFT, blockchain targets

E-commerce and cloud giant Amazon are reportedly working on new blockchain initiatives. What will this entail?

Various cryptocurrency-related projects appear to be still ongoing at Amazon, according to reports that have been published in recent weeks.

Four anonymous sources say Amazon plans to launch a non-fungible token initiative this spring, based on recent reports from Blockworks.

Amazon is reportedly looking towards established blockchain companies that already play a role in the NFT space. This includes companies that have built layer-1 blockchains, as well as blockchain gaming companies and digital asset exchanges.

Apparently, Amazon wants its users to play games so that it can distribute free NFTs to those players. Previous plans suggested that Amazon would partner with artists to create NFTs and send those tokens to users, though plans have apparently changed significantly. Amazon plans to launch its NFT project in April, sources say.

Amazon CEO Andy Jassy previously hinted at NFT support in mid-2022. It’s unclear if the latest news has developed directly from those reports.

Amazon is also looking to hire employees for its Web3 division, which includes blockchain services as well as other cloud services.

A job posting in February indicates that the firm is seeking a Web3 Go-To-Market Specialist. It mentions knowledge of blockchain several times in the requirements.

The posting asks applicants for “deep understanding of blockchain-based architectures” for Web3 and games. This apparently lends support to Blockworks’ insider reports, which discussed Amazon’s interest in blockchain gaming.

The listing also distinguishes between layer-1 and layer-2 blockchains. Although no specific projects have been mentioned, it means that Amazon may be interested in working with high-capacity networks as well as basic blockchains like Ethereum.

Last but not least, Amazon recently partnered with Ava Labs, a company best known for its Avalanche blockchain and its accompanying cryptocurrency, AVAX.

According to a post from Amazon, Avalanche partners with the company to host various events for entrepreneurs and developers.

Avalanche will also be available on Amazon’s AWS Marketplace. This is not entirely unique, as Amazon’s AWS division has provided access to enterprise Ethereum and other blockchains since launching Amazon Managed Blockchain in 2019. Avalanche itself will also continue to use AWS for some functions.

Amazon’s Avalanche partnership does not appear to be related to the NFT project mentioned above. Only the NFT project seems to be aimed at general consumers.