Amazon will revolutionize the video game industry using this technology

JVTech News Amazon will revolutionize the video game industry using this technology

Amazon’s new project

Sectors where the e-commerce giant has yet to make an impact are rare. If Amazon already offers several gaming-related services through its premium subscription, the company has decided to see big things in the next few months.

The American giant should be fully launched into video games in an unexpected way. As reported by the media
Blockwork, Amazon plans to develop a series of projects using the blockchain, the technology behind cryptocurrencies and NFTs. Among these high-profile projects, the giant will work on the designs free non-fungible token (NFT) based games.

As a reminder, NFTs are tokens issued on the blockchain that guarantee ownership of virtual objects. In games, the potential of this technology allows players to claim ownership rights to wins obtained in games.

For example, if you win a weapon skin in Counter Strike or any other game, it doesn’t really belong to you because it belongs to Steam or the platform that distributed the game. X reasons why this same platform is closed, then the skin will also disappear. However, if this skin is an NFT, then the owner has the option of transferring and storing it off the platform. He can even resell them to his heart’s content as the tokens are registered in blockchain registers which are technically indestructible.

This new approach aims to provide property rights to players, so it seems to seduce Amazon. At the moment, there are few details about how these NFTs will be used and how they will be introduced to gameplay. Nevertheless, we know the giant currently working with big names in the web3 sectorincluding blockchain-based game developers.

Amazon seems to have been working on this project for a long time its new features are expected for April 2023.

An undated project from yesterday

Although this announcement does not come at the right time – because since May 2022 interest in the NFT market has actually dropped after the burst of the speculative bubble – the giant is not discouraged and wants to exploit the potential of blockchain.

Amazon has never hidden its interest in web3 technologies. Since 2021, the company has been actively recruiting profiles specializing in blockchain technology.

Last year, the company’s new CEO even confirmed his position on the future of NFTs:

“I expect NFT to continue to grow significantly”

Additionally, a few weeks ago, the Amazon Web Services (AWS) branch announced partnership with Ava Labs, the company behind the Avalanche blockchain, to accelerate blockchain adoption by businesses, institutions, and governments. This partnership aims to support the Avalanche ecosystem as well as all decentralized applications (dApps) and to integrate Ava Labs into the Amazon Managed Blockchain.

Amazon’s adoption of NFTs could revive interest in the technology. However, it remains to be seen which blockchain will be used (Ethereum, Avalanche, etc.) and whether users will be there after the crypto winter turmoil and various scam stories that have been going around the NFT sector.

Furthermore, the arrival of giants like Amazon could also raising the bar in the web3 gaming market. Admittedly, certain sections of the games within this ecosystem are currently unsophisticated in terms of gameplay and graphics – generally due to a lack of tools.

With this new project, Amazon will assert its position on web3 alongside other GAFAMs such as Meta – which already offer NFT-related features on Instagram or Facebook.