With NFT use cases constantly multiplying, there is a lot of speculation as to what Amazon will focus on.
The best players in the NFT space have awarded the rumors of an Amazon NFT platform to be a potential game changer.
Rumors began to circulate about the platform after Amazon CEO Andy Jassy noted that the e-commerce giant might be selling NFTs. Since then, different reports have surfaced outlining how the company might move forward with the initiative. One report even suggested that the e-commerce giant will be ready to launch the platform by the end of April. For its part, Amazon has declined to comment on the reports, so it has been unable to confirm or deny the speculation.
In fact, it is regular companies like Starbucks and Reddit that are bringing early adopters of blockchain to web3. Given its place as a market leader, Amazon also has the potential to do the same with an Amazon NFT platform.
What the best of NFTs are saying about the Amazon NFT platform
Orange Comet CEO Dave Broome believes the move to establish an Amazon NFT platform is a game changer in the Web3 space. Broomer believes the e-commerce giant will give legitimacy to digital collectibles. With more than 300 million users worldwide, Broome also believes that Amazon can cause mass adoption of web3.
Similarly, Blur CEO ‘Pacman’ sees Amazon’s foray into the NFT space as a positive move. However, he noted that it could be difficult terrain for the platform to navigate. “I’d be surprised if web2 companies did anything compelling on web3,” he said. Blur, which launched in October, has been making all kinds of waves. Since its establishment, the company has handled over $3 billion in NFT trades. However, Blur’s strategy has raised questions about the legality of his approach.
OpenSea’s commercial director, Shiva Rajaraman, is excited about the news of an Amazon NFT platform. Rajaraman believes that any iteration and learning attempt will benefit the entire ecosystem. “We look forward to seeing what use cases they focus on,” he concluded.
What will Amazon focus on?
With NFT use cases constantly multiplying, there is a lot of speculation as to what Amazon will focus on. At Starbucks, NFTs give customers access to rewards programs. Ticketmaster provides event attendees with digital mementos of your events.
If Amazon goes ahead with creating an NFT platform, many believe the company will easily settle for NFT gaming, as it already owns the popular video game streaming platform Twitch.
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A seasoned writer with practical experience in the fintech industry. When he is not writing, he spends his time reading, researching, or teaching.
