Both are billionaires who have launched rocket companies and both are on a quest to successfully take tourists into suborbital space, known as the Kármán line, 62 miles from the ground.
Passengers will encounter weightlessness for about five minutes and have the same experience as astronaut Alan Shepard in 1961, hence the name New Shepard for Bezos' rocket.
Virgin Galactic's SpaceShipTwo is already selling tickets at $250,000 for a suborbital ride on its space vehicle launched by a carrier craft, WhiteKnightTwo.
Blue Origin's New Shepard will launch a traditional rocket with a detachable capsule that will descend using three parachutes.
New Shepard and SpaceshipTwo plan to begin space tours this year.
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