According to sources who have direct knowledge of the matter, Amazon is close to completing its in-house NFT (non-fungible token) initiative. A private and permissioned blockchain controlled by Amazon will host the NFT marketplace, featuring digital collectibles from prominent crypto-native creators such as Beeple and Pudgy Penguins. Confidential documents reviewed by Blockworks suggest that Amazon Web Services (AWS) has played a significant role in creating the blockchain. The blockchain is gas-less and read-only, with strict restrictions on NFT creators, partners, and Amazon customers. According to multiple sources, the launch timeline has been moved several times, and an exact unveiling date could not be verified. Amazon has signed a number of partnerships for the launch, with Beeple and the creators of Pudgy Penguins as day-one partners. Twitch, Amazon’s subsidiary streaming service, has been tapped to promote the Amazon initiative. Amazon is planning to support premium Discord memberships for partners, with the intention of brands selling NFTs tied to membership in an exclusive Discord community. Other planned use cases on the marketplace include exclusive drops of music, e-books and movies or TV shows, physical goods shipped after an Amazon customer buys an NFT, access to a private club, and behind-the-scenes meet-and-greets with musicians or celebrities. The Fabricant, a crypto company, has agreed to be what two sources described as an anchor participant for the marketplace’s fashion vertical. Amazon plans to heavily promote its hosted digital collectibles on Prime Day, slated for July 22 and 23. The company has told at least two partners that there are no plans at launch to include multichain functionality that would allow Amazon NFT buyers to move or transact their digital wares off Amazon’s blockchain. Amazon representatives have previously met with start-ups and then “launched competing products,” The Wall Street Journal reported in July 2020.
