Trezor home
Trezor home

Amazon crypto currency: Will it launch in 2023?

green image of amazon ui
Trezor home

Since 2021, news has been circulating in the crypto market about the launch of the Amazon digital currency.

Amazon Inc. is one of the leading American multinational firms known for its e-commerce and cloud computing services. Its entrance into the crypto market can be a game changer that may lead to various blockchain innovations. An Amazon token may compete with popular cryptocurrencies like Bitcoin and Ethereum. 

However, as of now, concrete information regarding its release date or presale still needs to be made available. If you have questions such as "Where and how can I buy Amazon crypto currency?" or "When will the coin be launched?" this article provides the answers you seek.

Can we expect an Amazon crypto currency to launch in 2023?

For two years, the crypto market has been buzzing with many questions about the launch of a crypto coin project from the e-commerce behemoth.

Many news outlets have reported that the company wants to introduce its own crypto. However, the company has not confirmed anything yet. 

The company has been mum so far. There is no official statement regarding the project's progress and when and if the company is releasing it. Therefore, it is highly unlikely to release the coin in 2023.

Various analysts also dubbed the alleged AMZ crypto's presale a scam. Reportedly, fraudulent actors behind this project are tricking the investors into buying a fake asset to acquire their funds illegally. Therefore, proceeding with due diligence is advisable if you want to invest in the token.

Why are there rumours about an Amazon crypto currency launch?

One might wonder why so many rumours surround the Amazon crypto coin presale. There are three main reasons behind it reflecting the company's interest in the blockchain and crypto industry. These include:

Job posting for a blockchain and digital currency expert

The rumours of this launch started in 2021 when the firm showed interest in the crypto industry by posting a job ad. It was looking to hire a digital currency and blockchain expert to supervise its projects. However, the company did not mention the specifics of the project.

The company offers managed blockchain services, and this job posting was probably related to it. Nonetheless, the scammers might have used this news to propagate the concept of the AMZ token.

Trezor home

Partnership with Avalanche

Another reason that suggests the firm's engrossment with the industry is its partnership with Ava Labs. The Avalanche blockchain uses AWS tools to build several features for its DApp ecosystem. The e-commerce giant's alliance with the blockchain network is significant.

It is another reason that people expected a crypto token from Amazon. However, the company so far has not confirmed whether it is working on a cryptocurrency or not.

Potential NFT marketplace

Besides the AMZ token, several reports suggest that the company is planning to launch a non-fungible token (NFT) marketplace. Yahoo Finance UK reported on 7 March, 2023, that the company is looking to introduce an NFT marketplace in April. The report further claimed that the digital marketplace may include NFTs of clothing or other fashion accessories.

Meanwhile, a renowned NFT collector, Moritz, also shared a detailed thread on Twitter regarding this digital marketplace. He maintained that "it is huge for Web3".

Furthermore, he claimed that the marketplace will be easy to use and not require a deep understanding of blockchains or wallets.

Nevertheless, as of writing, this news has yet to be confirmed by Amazon, and the Moritz thread acknowledged it. 

Can Amazon step into the crypto market?

The cryptocurrency market can offer various opportunities for a tech giant like Amazon. Here are some reasons why it may consider entering the market:

  • To create a more convenient method for customers to buy and sell cryptocurrencies.

  • To compete with other major retailers that are already accepting cryptocurrencies.

  • To generate new revenue streams from crypto trading and mining.

  • It may allow it to compete with other tech giants already involved with crypto.

Is AMZ coin really a scam?

Our research suggests that AMZ coin is a potential scam project using Amazon's reputation to swindle money from investors. There is no particular source that suggests Amazon's affiliation with this project. There's also almost no information about the token on platforms like CoinMarketCap or Coingecko. Besides, Amazon’s silence on the matter creates further confusion.

Nevertheless, the company's continued hiring of crypto-related talent and partnerships with blockchain firms suggests it is considering stepping into the crypto market. But, until the company itself does not confirm anything, it will remain a risky investment.

Trezor home
Author: Wasay Ali

Author: Wasay Ali

Wasay Ali is a versatile professional writer with global experience and a background in mechanical engineering and social science. He is adept at crafting news and informational content for the crypto space and has experience writing for other niches. He is a professional SEO content writer who has worked with several digital marketing agencies and clients in the US, UK, Pakistan, and Europe. He is a dedicated volunteer and enjoys reading, writing, poetry, and going to the gym. He is an INFJ-A personality type dedicated to positively impacting the world. Wasay has a passion for writing as it allows him to express his creativity, share his knowledge, and connect with people worldwide.

This site uses cookies, please see ourCookie Policyfor more information.