Amazon is launching it's own NFT marketplace (& more) utilizing most of the power players in the industry.
everything you need to know.
🧵👇
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{Marketplace}
The marketplace was originally scheduled to launch in 2022, however, @amazon’s web3 blueprint appears to have significantly evolved since - leading to perhaps May '23.
The tech giant coming into the space is a big one for crypto, for many different reasons👇
{Rewind}
Before we dive in let me provide some historical context, amazon has always been tech forward, everything from timed delivery systems, prime, next-day shipping, alexa, streaming.
What they do is take existing concepts, and 10x them.
@ajassy
twitter.com/SquawkCNBC/status/1514597768739835910?s=20
1. {Onboarding Normies}
Remember when I said amazon 10x things?
Well here is the first play, simplification of the NFT process.
> Fiat payments for NFTs
> Utilization of existing web2 infrastructure
> Prime rewards
> IRL products being tied to NFTs
> Streaming/gaming unlocks
2. {Integration w/ heavy hitters}
Amazon seems to be hinting at allowing only a select group of existing collections to go live with them - to drive volume.
This naturally leads to the conclusion that they have been in chats with @solana @0xPolygonLabs @etherum projects.
👇👇
2.5 {Integration w/ heavy hitters}
My guess is that this includes the likes of:
> @y00tsNFT
> @BoredApeYC
> @DeGodsNFT
> @MadLadsNFT
> @Azuki
> @doodles
> @moonbirds
3. {Infrastructure}
Although a marketplace is first and foremost on amazon's list. The company has natural levers it could pull to be successful in adjacent areas.
Remember @awscloud? Well it's comprised of centralized compute & storage - aka 74% of profits.
3.5 {Infrastructure}
@amazon realizes that the tech of web3/crypto could seriously disrupt it's business, think about how @akashnet_ / @storj @Filecoin are "decentralized AWS"
Web2 = Consumer packages (top of funnel) > AWS ($ maker)
Web3 = NFTs > Amazon Web3 Services ($ maker)
4. {Gaming/Applications}
When looking at the scope of applications for NFTs, AMZN appears to favor gaming, a similar bet to the one being made by @BoredApeYC
This is in addition to potential partnership w/ web3 gaming projects / L1s that can scale:
solana.com/developers/gaming
{Amazon Layer1}
Amazon spreading into adjacencies in inevitable, as mentioned before, storage, compute, marketplace, NFTs.
It's likely they'll need their own L1 - hot take, my guess is it won't be an ETH fork, as amzn needs scalability.
nftnow.com/news/breaking-amazon-reportedly-launching-nft-initiative-this-spring/
{Prediction}
If @amazon wants to get deep into the NFT ecosystem, it may be advantageous for them to partner with a wallet @xNFT_Backpack vs building their own.
> Access to users
> Ability to build native applications inside the wallet
> Avatars for prime members @MadLadsNFT