Global retail giant Amazon looks like it’s gearing up to step into the NFT game using the WAX blockchain collectible platform. Covered: Amazon Wax Partnership Sony and AMC Choose WAX Blockchain WAXP Price Update More and more companies have been lining up to get a piece of the action in the booming non-fungible token (NFT) […] The post Amazon Jumps Into NFTs With Wax Blockchain appeared first on CryptosRus.

Amazon Jumps Into NFTs With Wax Blockchain

Global retail giant Amazon looks like it’s gearing up to step into the NFT game using the WAX blockchain collectible platform.

Covered:

  • Amazon Wax Partnership
  • Sony and AMC Choose WAX Blockchain
  • WAXP Price Update

More and more companies have been lining up to get a piece of the action in the booming non-fungible token (NFT) space. The WAX (WAXP) blockchain, in particular, is gaining a lot of momentum thanks to some major US companies.

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Amazon Wax Partnership

Today, WAX announced that Amazon has invested in DIBBS, a real-time fractional card market that utilizes WAX’s vIRL NFT technology.

The funding from Amazon arrives just as DIBBS launched a new service that allows users to buy and sell fractions of trading cards.

DIBBS chief executive officer (CEO) Evan Vandenberg said that Dibbs will soon expand into card games like Pokemon and Magic and is also considering its first non-card categories.

“Cards are one thing that we do, but it’s one thing. This can be so much bigger than cards.”

Sony and AMC Choose WAX Blockchain

In addition to Amazon, Sony Pictures and AMC Theaters announced at the end of November that they would also be choosing WAX to promote Sony Pictures’ Spider-Man: No Way Home NFTs. 

The partnership marks the first-ever NFT promotion between a studio and a major theatrical exhibitor. Sony and AMC chose to utilize WAX blockchain based on several key benefits of the platform including eco-friendliness and mass-market accessibility.

AMC CEO Adam Aron says that WAX enables zero-fee minting and transferring of NFTs, making it an easy and accessible option for users.

“In addition to being eco-friendly, it was essential that the process for receiving the NFT was also consumer-friendly.

It’s easy to use and already widely adopted. WAX Cloud Wallet combined with no gas fees for minting, sending and receiving NFTs gave us confidence that everyone, including first-time blockchain users, would be able to participate in the promotion.”

WAXP Price Update

After a series of bullish news for the token, WAX’s native token WAXP has embarked on a moon mission. From a low of $0.45 after Bitcoin dumped down to $42,000 from $69,000, WAXP rallied back up more than 60% to a local high of $0.74. 

The token has since pulled back and is currently trading at $0.60.

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WAXP appears to have climbed back to the $0.60 level which acted as previous resistance in the past. The token saw a huge surge in volume off the announcement and the relative strength index (RSI), which measures the overbought and oversold conditions of an asset, is running hot right now on the four-hour chart. We’ll have to see if this level holds; if it does, WAX could be primed to rally even further as Amazon ushers in new users to adopt the platform.

The post Amazon Jumps Into NFTs With Wax Blockchain appeared first on CryptosRus.