Clover Integrates BTC Lightning Network With Billion Dollar Company Strike

  • Amazon acquires a number of non-fungible token companies to bolster its next blockchain arm.
  • Amazon will open an NFT marketplace and launch a number of crypto games for its users.

According to reports, Inc. is preparing a non-fungible token program for Q2 2023 that would allow users to earn tokens by playing games.

This report was further confirmed by interviews from sources conducted by Blockworks, a media company, that Amazon has acquired NFT companies within the crypto space to form the building blocks of its NFT arm.

Blockworks sources say these acquisitions include Tier 1 Blockchain, digital asset exchanges, and 9 startups and blockchain-powered game developers. With Amazon’s enticing words swirling around blockchain-based games and NFT-related applications.

This speculation that Amazon is making a move to the cryptocurrency industry will prove to be significant and send a positive wave through the blockchain-based gaming industry.

The blockchain-based gaming industry has experienced a huge decline due to scams and sagas within the crypto ecosystem. Even the recent FTX saga doesn’t help. The number of cryptocurrency players in 2022 is down from 2021 highs. Called a “booming” market in early 2021, NFT sales were down 80% in December of 2022.

The above data may be a concern for some. Amazon, however, isn’t interested in that information. It witnessed the peak of the cryptocurrency gaming industry when many of those projects were forced to increase the amount of storage provided by Amazon Web Services (AWS) due to huge demand.

According to numerous reports, Amazon will operate the new NFT platform directly rather than through subsidiaries. This is intended to help him maintain absolute control over the NFT platform, should it become the largest in the industry. Possible options include launching a new standalone service or integrating with existing Amazon services such as Prime Gaming or its app store.

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Given that Amazon owns Twitch, it’s unclear right now whether the brooding Amazon platform NFT others with others. The likes of OpenSea and Rareable are bigger platforms and potential competitors to AmazonNFT right now.

Amazon expands its arms through several NFT partnerships

Amazon may be a newcomer to NFTs, but it’s not a newcomer to blockchain technology. Ava Labs Inc., a blockchain startup, said on Jan. 11 that it has partnered with Amazon Web Services. The partnership will help accelerate the adoption of blockchain by businesses, organizations and governments.

As part of the collaboration, AWS will support Avalanche’s decentralized application ecosystem and Avalanche infrastructure. It will also enable Avalanche node operators to leverage AWS GovCloud for FedRAMP compliant use cases.

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Amazon has been among the large companies that have refused to accept cryptocurrency payments for its services. However, these speculations point to a slow but gradual opening to the cryptoverse by the retail giants. How long this opening could last is unknown, but it’s not far-fetched to say that a cryptocurrency-friendly Amazon company is springing up in the near future.

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