What will happen if the world's largest retail company enters the NFT (non-fungible token) field? According to the latest news from foreign media, Amazon will launch the NFT platform "Amazon Digital Marketplace" as soon as April 24. It is expected that fifteen NFTs will be issued in the first wave and will be linked to physical goods.
For example, Amazon buyers will be able to buy NFT, a fashion accessory linked to a pair of jeans, and accept credit card payments, making the experience just like buying any product on Amazon. Impact 1: Promote the legalization and popularization of NFT
The "NFT Spring" that started in 2021 has caused many NFT projects to be sold to sky-high prices, such as well-known works such as CryptoPunks and BAYC.
But the applications that have truly entered the lives of ordinary people are well-known companies such as Starbucks and Reddit, which can attract a large number of novices to invest in Web3. What's more, Amazon has more than 300 million active users around the world, which has considerable potential to attract blockchain novices. Investment Impact 2: Promote the practical application of NFT
Shiva Rajaraman, commercial director of the NFT trading platform OpenSea, said that he looks forward to seeing more interesting applications. “We are excited about large companies like Amazon joining the NFT field and are looking forward to what applications they will come up with. Use Case."
This year, many companies have combined NFT technology with their own products and business models.
Starbucks, the coffee chain operator, recently launched the customer reward program "Starbucks Odyssey", allowing customers to obtain NFT through various tasks and unlock various benefits; Ticketmaster, the leading ticket sales platform, launched NFT collectibles to allow event organizers to Issue NFTs and give them to concertgoers as souvenirs. Impact 3: Promote the transformation of the game industry
Compared with other fields, games have greater profit potential in the Web3 world.
Taking the game market as an example, players purchasing and selling in-game virtual assets (such as virtual treasures and equipment) generate an economic scale worth billions of dollars every year. When Amazon acquired Twitch, a game live streaming platform, in 2014, it had the opportunity to combine it with NFT to create greater economic value.
Chris Akhavan, gaming director at NFT store Magic Eden, said: “Amazon has established a deep connection with the gaming industry through Twitch, and we can expect it to be a huge success in blockchain gaming.”