Amazon NFT Marketplace launch delayed

Amazon NFT Marketplace launch delayed

E-commerce giant Amazon’s NFT marketplace launch has been delayed by a few weeks to May. The technology giant previously planned to launch “Amazon Digital Marketplace” April 24, as previously reported by CoinGape Media. The platform will start offering the service to US customers first and will gradually roll out to other countries.

Amazon postponed the launch of the NFT marketplace in late 2022 due to challenging market conditions following the collapse of crypto exchange FTX in November. The latest delay has come to ensure preparedness and prevent technical failures and other problems due to unexpected events.

Amazon delays launch of NFT Marketplace

According to reports, Amazon has delayed the launch of its NFT marketplace “Amazon Digital Marketplace” from April 24 to May 15 citing emergency reasons.

Amazon Digital Marketplace is the most anticipated event for the crypto space, especially the NFT community. An internal source connected to the e-commerce giant said that there are some technical and commercial challenges, such as per the great whale.

Amazon originally planned to start offering around 15 NFT collections on launch day itself. However, 80 NFT collections have been selected by the e-commerce giant for its NFT marketplace. NFT collections reportedly include Bored Ape, Mutant Ape, World of Women collection, Beeple and Pudgy Penguins. However, some claim benefits and merchandising will be offered for sale, not the main NFT collections.

Also read: Binance Adds Bitcoin, Shiba Inu, Dogecoin, Stablecoins to Liquid Swap

NFT buying and reselling without crypto payments

While the launch of Amazon Digital Marketplace could be a big step towards mass adoption of Web3, it will not accept crypto payments for NFTs. It will be available on a private blockchain and customers can access it on Amazon’s website by clicking on the “Amazon Digital Marketplace” tab.

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CoinGape Media previously reported that Amazon Web Services partnered with Ava Labs to accelerate the adoption of blockchain technology. With the launch of an NFT marketplace, Amazon is taking another step into the Web3 ecosystem. AWS had also partnered with Chainlink (LINK) for the node creation solution and VeChainThor for blockchain-based carbon management services.

Also Read: Coinbase Beats Lawsuit To Force SEC To Respond To Rulemaking Petition

Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto and Web3 developments. A technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5,000+ news articles, articles and papers. With CoinGape Media, Varinder believes in the enormous potential of these innovative future technologies. He currently covers all the latest updates and developments in the crypto industry.

The content presented may include the author’s personal opinion and is subject to market conditions. Do market research before investing in cryptocurrencies. The author or publication has no responsibility for your personal financial loss.

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