What is Amazon NFT Marketplace?

In this episode, you can discover the latest innovation in the world of digital collectibles with Amazon NFT Marketplace. Learn about what it is, and what sets it apart from other NFT marketplaces. Join the revolution and explore the potential of non-fungible tokens on Amazon NFT Marketplace.

Opensea – https://opensea.io

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Show Transcription

[00:00:00] Cheryl: Welcome to Women of the Metaverse. I am Cheryl Laidlaw.

[00:00:08] Angela: I am Angela Harkness. We have been and are still on a journey to discover the Metaverse with 3.0 NFTs and anything that we are required to know to join this world

[00:00:20] Cheryl: from. From this podcast, we will help you to unlock how the metaverse is going to impact your.

[00:00:27] Cheryl: Your business and even your personal life.

[00:00:31] Angela: Join us as we take the mystery out of this new digital universe.

[00:00:38] Cheryl: Welcome to Women of the Metaverse. In this episode, we are talking about Amazon’s N F T marketplace. So they are set to launch this new platform in the State’s first on April 24th. So by the time this episode airs, it would’ve been launched. Their aim is to enable customers to [00:01:00] purchase digital collectibles linked to physical goods that are delivered to customers’ homes.

[00:01:06] Cheryl: The new platform will let you buy NFTs without even having a wallet. So basically you can buy NFTs with a credit card just like you would anything else on Amazon, the marketplace. We’ll have 15 N F T collections available for the US-based customers before expanding worldwide. But haven’t said much, much more than that.

[00:01:32] Cheryl: There’s a lot of guessing going on in the news. So what do you think about this, Angela? The states always get the benefits.

[00:01:41] Angela: You know, I was thinking that myself. It just seems the whole thing about NFTs in the first place is about them becoming col. So if you offer this collection just to a small group of people Mm, then they potentially have the, the advantage of this is the first [00:02:00] collection coming out, therefore it’s gonna be valuable.

[00:02:03] Angela: So it’s not fair, is it? No. I think the way they could have done it is they could have. Launched one collection in this country, one collection in another country, one collection to see. Mm-hmm. I understand it being a, a softer launch cuz they wanna see how it works and it’s difficult to manage server usage resources and manage stats to how it’s going.

[00:02:30] Angela: But it does seem a little bit

[00:02:33] Cheryl: where’s the states, isn’t it? States? I know that they’re based obviously the, the, um, it’s an American company. It it is, it is. We, we, we know that there needs to be a beat around. We know that. But I don’t know. I feel

[00:02:48] Angela: like people could have signed up for it. People could have pre-signed to say, yes, put me on the list regardless of what country I’m in.

[00:02:56] Angela: And

[00:02:56] Cheryl: much like Adobe’s Firefly.

[00:02:58] Angela: Yes. [00:03:00] And then regardless of what country, and you don’t necessarily need to give everybody who’s on the list the opportunity to buy the N F T, but it could have been a. Agree with above to this.

[00:03:13] Cheryl: I agree, Angela. I absolutely agree. So why is Amazon doing this? Angela,

[00:03:20] Angela: Amazon shoppers will be able to purchase fashion orientated NFTs that are linked to physical goods such as hats, trainers, and handbags.

[00:03:30] Angela: These NFTs will be delivered to customers NFT account. Whilst the physical piece of clothing is being delivered to the customer home, this gives e-commerce the opportunity to now sell NFTs along with physical goods using Amazon’s platforms. Lots of high end brands are doing this site Nike, with their R T F KT collection, as well as Gucci, Luton, and do to name a fume.

[00:03:57] Angela: So how does it compare to [00:04:00] open sea? Which we have talked a lot about C

[00:04:03] Cheryl: we have in the Yes, probably the very in season first. A lot in season one. Yeah. So if you don’t know, open Sea is an NFT marketplace where users can buy and sell or create NFTs using the Ethereum blockchain. Amazon is aiming to simplify N F T purchases and eliminate the natural complexities of the crypto world, allowing customers to experiment with the technology without understanding its mechanics.

[00:04:37] Cheryl: I feel like it’s bridging the gap between web two and web three. Amazon could take NFTs to the next level and make them more accessible to everyone. The company has a massive subscriber base of approximately a hundred and, uh, sorry, 167 million [00:05:00] users to its Prime Service, who will be the first to receive information about this marketplace launch.

[00:05:07] Cheryl: But is it a good. There are concerns that the entry of the bigger players like Amazon could further centralize the N F T market, limiting the opportunities for smaller artists, businesses, and independent creators to gain. Exposure and sell. Their work concerns have been raised about the possibility of Amazon’s vast platform, overpowering the N F T market, which may result in smaller marketplaces and platforms being displaced.

[00:05:45] Cheryl: Now, how do you feel about that, Angela? Because. Amazon is very much a web two. It’s a centralized, massive company. What Web three is trying to do is [00:06:00] basically give more opportunities to smaller businesses and make way for new businesses coming through on the blockchain and therefore be decentralized. So I think this is really interesting because I said, is it a good thing?

[00:06:13] Cheryl: Is it a bad thing? Uh, I don’t know. I’m, I’m on the fence. It’s

[00:06:19] Angela: difficult to know, isn’t it? Because if you will, the people that buy the initial launch be people that already buy NFTs anyway. Because if you are just a normal consumer and have either no interest in NFTs or don’t even know what they are.

[00:06:39] Angela: Would you care that you’ve got this N F T attached to the thing that you’ve purchased? That’s a very good point. Mainly you just want the hat. You don’t, what’s this thing that they’re giving me as well? This piece of art, what is it? So do people want it? The decentralized element of it. [00:07:00] Immediately when we were kind of looking into it, thought the whole point of NFTs or the use of tokens, The element of the smart contract and blockchain, does this take it away from the, does this sell on the blockchain because it is about assets, it’s about security, it’s about having that, um, smart contract.

[00:07:21] Cheryl: Yeah. The fact that they’ve taken the wallet away is the feature as well, where you can purchase through credit cards.

[00:07:27] Angela: Yeah. So it’s very difficult to know at this stage. Successful, it’s gonna be, is it gonna be very similar to Facebook and Meta where they’re trying to join in and actually they’ve not quite done it right?

[00:07:44] Angela: Flop? Yeah. And is it, um, it’s almost sometimes when you see, I don’t know, comedians as they get older when they continue to do the same act and they aren’t, they aren’t funny anymore where they used to be. Do you know what I mean? Do you think [00:08:00] Amazon’s gonna lose its own? Well, I think sometimes. Like Facebook, it tries to be relevant, but if you actually look at who’s currently on Facebook, it is just, it is become quite, it feels quite dated compared to what you see on TikTok and is.

[00:08:16] Angela: I love Amazon. I use Amazon. In fact, both you and I have just had Amazon and deliveries we have in in the middle. I’m trying to record all of this. It’s so much, it’s so convenient, but is this a step too far or are they making another genius move and actually there will be some benefit to it? Hmm. I think.

[00:08:37] Angela: Don’t re caution and see how people

[00:08:39] Cheryl: react. Yeah. When we know that Amazon are really good at being innovative because they’ve got the drones ready to drop up our parcels, we know that that’s kind of been written about for the past two plus years in regards to, you know, new delivery styles. So we do know that they are very, [00:09:00] very forward thinking is.

[00:09:04] Cheryl: Enough. Could they have re, could they have decentralized, could they created a new decentralized platform and then done it that way? Or are they desperately trying to keep everything centralized so they can keep a hold of our data?

[00:09:18] Angela: Um, well then that, that is an obvious one. And if you look at, sometimes there is can be an element of jumping on the bandwagon for the sake of doing it.

[00:09:29] Angela: You know, when Tesco’s used to do everyth, And it was like, oh, do insurance and cards and banking and you know, sometimes it’s, some of it is successful, some of it isn’t. Mm-hmm. With Amazon, you wonder whether this is being bought, bought through. If you look at what Starbucks does, Starbucks always did this thing brilliantly.

[00:09:47] Angela: So what they’ve done with Starbucks Odyssey, it is very much like an add-on and they’ve kind of blended it with the previous. Experience of the star Cardi? Yes. The loyalty [00:10:00] cards, they’ve kind of done it really well. Only time would tell with this one, yes. They may be really clever with it, or they maybe just have lost their edge with it because they’re trying to jump on the bandwagon and looked at how successful NFTs are.

[00:10:14] Angela: If you are

[00:10:15] Cheryl: listening to this episode, do go and have a little Google cause by the time this has been released, it will be out. It would’ve been launch. So do go and have a little look. Um, so do you think it’s a good time to launch and do you think Amazon is a good way of getting your foot on the ladder with NFTs, or do you think we need to stick to decentralized platforms so that the big guys don’t take over?

[00:10:40] Angela: What’s your thoughts? Oh, such a difficult one, isn’t it? Because will it help people to understand tonkins more? I don’t know because. Because they’ve done it in a completely different way. Yeah. We’ve

[00:10:55] Cheryl: just spent the, the whole year telling people about open sea and then [00:11:00] for this, you know, the big guys just to come along and go, you can buy ’em here if we did credit card.

[00:11:04] Cheryl: Don’t worry about a wallet.

[00:11:05] Angela: And then does it work the same? Because the whole thing about an N F T is that it is this unique thing and we just mentioned previously. About purchasing ft. The you, the security behind it because it sits on the blockchain and you can prove that you’ve purchased it. And also with the physical items.

[00:11:25] Angela: I’m still a little bit unsure as to how this works because you’ve got, if you buy something with an N F T that has a physical item attached, do you then just sell the N F T separately, or do you have to sell the item with the N f? I don’t think so. But that could be. And also, again, are you gonna be in a situation where people, a lot of people are seeing on NFTs thinking, well, what am I supposed to do with this?

[00:11:52] Angela: Absolutely. I think initial, I think the initial purchases will be made from people who already know about NFTs and by them to [00:12:00] say, I’ve got the first one.

[00:12:01] Cheryl: I agree. I agree. So the next question is, are they going to have their own token?

[00:12:12] Angela: Interesting. There are no official announcements from Amazon, but. The successful launch of N F T marketplaces like glare and looks.

[00:12:22] Angela: Many people are speculating that there may be an Amazon token or airdrop from Amazon. The entry of Amazon into the N F T space has the potential to bring both positive and negative impacts on the industry, but only time will tell how this development will shape the future of entities. Question is, Are you interested in buying your MFTs using this platform?

[00:12:47] Angela: Or are you gonna seek to platforms like Open Sea? I will tell he will see. It may. It may be, it may make people more interested in buying NFTs through Open Sea once they [00:13:00] understand it by Amazon that may have that impact or may understand how tokens could work or how they do work in your. Definitely

[00:13:08] Cheryl: we can only see, there’s definitely lots of pros and cons to it.

[00:13:11] Cheryl: And because there’s hardly any information out there. Yeah, they’ve been

[00:13:14] Angela: very secretive about it, haven’t they? They have,

[00:13:17] Cheryl: they delayed the, uh, the launch as well. Um, so the, the, the very small information that we do have is a bit of a guess, a guesswork. So Yeah. You know, our, this episode launches, um,

[00:13:33] Angela: term launch.

[00:13:34] Angela: Mm-hmm. Yeah. I think what we will probably. In probably season three, he’s maybe doing another episode on this because by then we’ll be able to tell whether the launch has been successful or they may have done a wider launch. So well, white people might be able to buy from the N F T marketplace, so we will see, but let us know.

[00:13:55] Angela: Please let us know. It is particular if you are listening in the states and you buy one [00:14:00] or you have access to it, and we don’t let us know. You are getting on with it and whether you’ve brought anything. Anyway, we hope you’ve enjoyed this episode. Join us next week as we continue our journey into the Metaverse.

[00:14:13] Angela: Bye for now. Goodbye. Thank you for listening to this episode of Women of the

[00:14:18] Cheryl: Metaverse. You can find all information, links and people we talked about in the show notes on our website. If you have enjoyed this

[00:14:27] Angela: podcast, please comment and

[00:14:29] Cheryl: subscribe. Join us again in the next episode as we continue this exciting m