Amazon prepares to launch cryptocurrency company

In the coming months, Amazon plans to launch a cryptocurrency company that will allow it to promote cryptocurrency games and NFTs

Last updated on January 30, 2023

American retail company Amazon is working on launching a new company that could be ready between June and August, with cryptocurrency as its backdrop.

According to information provided by Blockworks, Amazon will enter the world of Crypto assets with the aim of promoting cryptocurrency games and non-fungible tokens (NFTs).

The retail giant plans to acquire various NFT platforms, as well as “Tier 1 blockchain and money-playing cryptocurrency gaming companies.” There is no doubt that this move will open more doors for the company in the cryptocurrency market.

They have yet to issue an official statement from Amazon; however, information obtained by Blockworks suggests this will appear in mid-2023.

The move will be a way to compete with other big players in the cryptocurrency world, such as Rarible and OpenSea, which manage millions of users and high profits.

Amazon may have a good chance to compete in this space, since it has more than 300 million users worldwide and is another way to attract millions of investors.

Source: morocotacoin

(Reference image source: James Yarema, Unsplash)

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Source of information: Compiled from BITFINANCE by 0x Information.Copyright belongs to the author Marilin Pino, without permission, may not be reproduced

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