Amazon, the world’s largest online retailer is set to launch its own NFT marketplace.

This move could perhaps shake up the NFT landscape and could potentially bring the market to a wider audience.

In this post, we’ll take a closer look at Amazon’s plans for its NFT marketplace and what it could mean for the future of NFTs.

Amazon’s NFT Marketplace (What To Expect)

According to reports, Amazon is planning to launch its NFT marketplace on April 24, 2023.

The marketplace is set to open with 15 NFT collections, which shall be available on the launch date.

The Marketplace will first be available only to US users before expanding to other countries.

When the marketplace launches, users can access it by clicking the “Amazon Digital Marketplace” tab on Amazon’s website.

Users who would love to buy any of the NFT collections will do so through their Amazon accounts using a credit card.

In addition, it will allow anyone to buy NFT without the need to first own a Metamask or other crypto wallets.

Interestingly, Amazon originally intended to launch its NFT marketplace last year, but the plan was stifled due to the unanticipated events surrounding the FTX’s collapse.

What Does It Mean For The Future Of NFT?

This is, of course, an exciting development.

Firstly, Amazon’s NFT marketplace brings about inclusion in the NFT market.

Currently, NFTs are predominantly sold through blockchain-based marketplaces and require a degree of technical knowledge to use.

By integrating NFTs into its platform, Amazon makes it easier for average people to buy, sell, and trade NFTs.

This increased accessibility could potentially lead to increased NFT adoption and more NFT use cases.

Secondly, it could also lend greater credibility to the market.

It is true that NFTs have already gained significant attention in the art world, with high-profile sales fetching millions of dollars.

However, because the market is still relatively new, some people may be wary of it.

Amazon, as one of the world’s most trusted and well-established e-commerce platforms, could possibly allay their concerns and bring a greater level of trust to the market.

Last but not least, thanks to Amazon’s vast user base of over 150 million, NFT holders might find it easier to sell their NFTs without waiting for long for a buyer.

If this happens, it will bring about increased liquidity in the NFT market, which is one of the concerns around NFTs.

All hopes are high about the significant impact and mass adoption that Amazon’s NFT Marketplace would bring to the NFT market.

On the other hand, Amazon does not have plans to enable crypto payments. This will not help the general adoption of cryptocurrency even with the introduction of NFTs.

What do you think about Amazon’s intended NFT marketplace? Leave your thoughts in the comment section.

Also read: Earn Passive Income On Your NFTs With These 8 Top Platforms!