1. You Are At:
  2. English News
  3. Business
  4. Markets
  5. Amazon is working on NFTs, teases its introduction in an email

Amazon is working on NFTs, teases its introduction in an email

Amazon is introducing its own NFTs and the initiative could be launched in April 2023.

India TV Business Desk Edited By: India TV Business Desk New Delhi Updated on: March 25, 2023 10:31 IST
Amazon is working on NFTs
Image Source : FREEPIK Amazon is working on NFTs, teases its introduction in an email

The e-commerce and cloud computing conglomerate is currently working on a Non Fungible Token (NFT) related project. According to reports, after a subscription renewal for Prime Video, a streaming service of Amazon, the user received a confirmation email which read that digital token is now available in the gallery of the user. Moreover, the mail reads that the user can only sell the NFT after registering as a reseller. 

News has been running since January where different rumours had emerged over Amazon entering into the NFT market. This email confirms the company’s plan and also it is getting introduced at a quick pace. Earlier reports have revealed that Amazon will look to tie their NFTs to real world assets and can be launched in April 2023.

Amazon’s entrance into the NFT market could be a milestone in Blockchain and Web3 technology. Amazon NFT will allow the people to buy the digital tokens who do not have crypto wallets. Amazon’s NFT is also in sharp contrast with Meta’s plans on the digital token market. It is reported that Meta will phase out its NFTs strategy on Facebook and Instagram. Similarly, Indian crypto exchange, WazirX, closed its NFT marketplace. Globally, NFT sales have plummeted after making headlines at the start of 2022. As a result, digital marketplaces are shutting down. 

Major cryptocurrencies are trading as follows as of 9 am IST, 25th March 2023:

Bitcoin: $27,624.54 USD


Ethereum: $1,758.26 USD

Tether: $1.00 USD

USD Coin: $0.9999 USD

BNB: $323.27 USD

XRP: $0.4238 USD

Dogecoin: $0.07558 USD

Cardano: $0.3602 USD

Polygon: $1.11 USD

Polkadot: $6.07 USD

Tron: $0.0641 USD

Litecoin: $92.40 USD

Shibu Inu: $0.00001063

ALSO READ: Amazon to shut DPReview, go-to camera reviews site

Latest Business News

Read all the Breaking News Live on indiatvnews.com and Get Latest English News & Updates from Business and Markets Section