In yet another sign that the non-fungible token (NFT) market could be ready to rebound in 2023, reports are now circulating that tech giant Amazon (NASDAQ: AMZN) will formally enter the NFT market as soon as April. There are a number of different directions this new strategic initiative could go, with significant implications for all of the major players in the NFT market right now.

So which cryptos could skyrocket as a result of this new NFT initiative from Amazon? Below are a few scenarios for the rollout of the NFT initiative, and how it might impact the future outlooks of top cryptos such as Avalanche (CRYPTO: AVAX), Ethereum (CRYPTO: ETH), and Polygon (CRYPTO: MATIC).

One potential beneficiary of an expanded Amazon push into NFTs would be Avalanche, due to its existing partnership with Amazon Web Services (AWS). In mid-January, Avalanche became the first-ever Layer 1 blockchain to partner with AWS in a move that was primarily heralded as a way of boosting enterprise and government adoption of blockchain technology.

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Source Fool.com