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Amazon Set to Jump Into Web3 with an NFT Initiative 💻

Rahul Kaushik
.
Web 3.0 Research Analyst
Written by
Rahul Kaushik
Published on
February 3, 2023
Read time
3 min read
Category
NFT
February 3, 2023

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Headlines 📰

  • Nike Establishes Web3 Studio for Collaborative Creation
  • Amazon Set to Jump Into Web3 with an NFT Initiative
  • Sorare and Premier League Join Forces to Launch an NFT Football Game

Nike Establishes Web3 Studio for Collaborative Creation

Image: cgtrader.com

Nike is extending an invitation to its community to join forces and bring their virtual sneaker designs to life through the innovative .SWOOSH Studio. This Web3 studio empowers individuals to collaborate with Nike’s talented designers, resulting in four winning creations to be unveiled as the brand’s first signature collection of virtual sneakers.

As a champion of NFTs and the metaverse, Nike has long been dedicated to embracing cutting-edge Web3 technology and exploring the limitless potential of virtual worlds. And with the launch of the .SWOOSH Studio, the brand is taking a major step forward in this exciting journey.

These virtual sneakers will be unveiled on the Polygon Network, marking a landmark moment in the evolution of Nike and the metaverse.

Amazon Set to Jump Into Web3 with an NFT Initiative

Image: dazeinfo.com

E-commerce giant Amazon is reportedly poised to enter the world of Web3 through a highly anticipated NFT initiative. Although the company has yet to reveal all the details, insiders say the launch will take place in the spring. Aiming to establish a digital asset enterprise, Amazon is seeking out potential partners to aid in its venture.

The company is reportedly considering various layer-1 blockchains, gaming startups, and digital asset exchanges, as well as developers within the Web3 space. Sources suggest that Amazon’s focus will primarily be on “blockchain-based gaming and related NFT applications.” This could include allowing Amazon customers to play cryptocurrency games and earn NFTs as rewards.

April is expected to bring more clarity to Amazon’s plans, and it’s widely believed that the company’s entry into the Web3 arena could have a significant impact on the entire cryptocurrency space. A source stated that if Amazon executes its plans effectively, it could potentially shake up the industry.

To get the initiative underway, company executives are rumored to have reached out to a family office and are believed to have evolved their plans from an initial NFT drop with an artist. The future of Amazon in the Web3 realm is eagerly anticipated.

Sorare and the Premier League Join Forces to Launch an NFT Football Game

Image: premiumtimesng.com

French start-up Sorare has secured a lucrative four-year licensing partnership with the world-renowned Premier League, a pivotal moment for the company. Sorare is a groundbreaking fantasy sports gaming experience that utilizes non-fungible tokens (NFTs) to create unique, collectible trading cards representing football players.

The cards are registered on the Ethereum blockchain and allow Sorare players to buy, sell and trade with one another. Players can build their own team of five players, earning points based on the real-life performance of their chosen players.

Having already raised an impressive $680 million in Series B funding and securing partnerships with renowned football leagues such as LaLiga, Bundesliga, and Serie A, the Premier League is a noteworthy addition to Sorare’s list of partners.

Sorare users can now enjoy access to all 20 Premier League clubs on the platform, as well as league-specific competitions. This partnership solidifies Sorare’s position as a leader in the exciting world of NFT-based fantasy sports gaming.


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Rahul Kaushik

Rahul is a former software engineer who is now a writer. After working as a full-stack developer early in his career, he realized that coding was not his forte and began writing blogs, poetry, and articles for sports magazines. He is always torn between Football and Bitcoin as his first love. In his spare time, he enjoys reading books on economics, startups, and business, as well as educating people on personal finance, cryptocurrency, and Web 3.0 on Instagram.

Rahul Kaushik

Rahul is a former software engineer who is now a writer. After working as a full-stack developer early in his career, he realized that coding was not his forte and began writing blogs, poetry, and articles for sports magazines. He is always torn between Football and Bitcoin as his first love. In his spare time, he enjoys reading books on economics, startups, and business, as well as educating people on personal finance, cryptocurrency, and Web 3.0 on Instagram.

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