Amazon Platform to Support NFTs ‘Down the Road’
Michael Abetz Last updated: 
An Amazon NFT marketplace to buy and sell NFTs is ‘possible down the road on the platform‘, Amazon CEO Andy Jassy told CNBC in an interview.
In the CNBC Pro interview available for paying subscribers, he also stated that while he doesn’t yet own Bitcoin himself, he’s bullish about the long-term potential of cryptocurrencies and non-fungible tokens.
‘I don’t have Bitcoin myself. We’re not probably close to adding crypto as a payment mechanism in our retail business, but I do believe over time that you’ll see crypto become bigger. I expect that NFTs will continue to grow very significantly.’
The Harvard Business school graduate took over as Amazon CEO from Jeff Bezos on July 5th, 2021.
Amazon Warms to Crypto Adoption
While cryptocurrency hasn’t yet been added as a way to make purchases on Amazon, the company – the 5th largest in the world according to CompaniesMarketCap.com – has been hiring experts in blockchain tech and digital currencies.
It would make sense for household names like Amazon and eBay, trusted already as online product marketplaces, to expand into buying and selling NFTs and take a slice of market share from NFT marketplaces like Opensea, Rarible and Looksrare.
Many cryptocurrency exchanges have already launched their own NFT marketplaces to do exactly that, for example:
- Binance
- Bybit
- Crypto.com
- eToro
- FTX
As CNBC notes the trading volume alone of NFTs in 2021 was over $ 17 billion, an increase of over 20,000% from 2020.
That interest shows no sign of slowing down in 2022 and major corporations such as Visa are now even launching NFT creator programs to position themselves at the centre of the exciting new asset class.
If Amazon does in time add support for crypto and NFTs that could lead to further mass adoption and ignite the next crypto bull run.
Cryptoassets are a highly volatile unregulated investment product.
The post Amazon Platform to Support NFTs ‘Down the Road’ appeared first on Business 2 Community.
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