Amazon NFTs Will Be Tied Real-World Assets, Token Possible

On September 30, 2021, Amazon announced plans to issue non-fungible tokens (NFTs) tied to real-world assets, potentially bringing tokenization to the mainstream. The company has not yet shared specifics about what assets it plans to include or when the NFTs will launch.

Amazon Marketplace ties digital ownership to physical goods delivered to customers’ doors. 

According to three sources familiar with the matter, Amazon is gearing up to allow customers to purchase Amazon NFTs tied to real-world assets delivered to their doorstep. 

According to sources, one of the mechanisms Amazon is considering promoting its digital collectibles is to send out mass emails to all US-based Prime subscribers.

Nonetheless, the potential for Amazon’s NFTs is significant. The tokens’ ties to real-world assets may make them more appealing to traditional investors wary of investing in purely digital assets like cryptocurrencies. Additionally, Amazon’s large customer base and brand recognition could bring more awareness and interest to the world of NFTs.

The tokens’ link to real-world assets opens many possibilities. Amazon could tokenize almost any asset, such as art, real estate, or even cars. By doing so, customers could purchase partial ownership of these assets, providing new investment opportunities that previously may have been difficult to access.

One possible scenario mentioned in a CNBC report is using NFTs to purchase time in a vacation home. For example, an NFT could represent a one-week stay at a beach house. Customers could purchase these NFTs, which could then be traded, resold, or used for their stay at the property.

While Amazon has yet to make official statements about a token, it is rumored that they will use Ethereum’s blockchain to support the NFTs. The Ethereum blockchain is one of the most popular blockchains for creating NFTs.

This would make sense since Amazon Web Services (AWS) already supports Ethereum blockchain nodes and has partnered with ConsenSys to provide an Ethereum blockchain platform for enterprise customers.

Another possibility is that Amazon could issue its own blockchain or token for NFTs. This could open new possibilities for the company to create decentralized applications and services.

Amazon’s entry into the world of NFTs could bring a new level of legitimacy and accessibility to the space. By tying the tokens to real-world assets, the company could offer new investment opportunities and potentially bring more traditional investors into the crypto space. While we await an official announcement from Amazon, the possibilities for what their NFTs could represent are exciting.