Amazon NFT platform is Gamechanger

Amazon NFT platform is Gamechanger

With the use cases of NFTs ever multiplying, there is a lot of speculation about what Amazon will focus on.

Top players in the NFT space have rated the rumors of an Amazon NFT platform to be a potential game changer.

Rumors started swirling about the platform after Amazon CEO Andy Jassy noted that the e-commerce giant may sell NFTs. Since then, various reports have emerged outlining how the company might move forward with the initiative. A report even suggested that the e-commerce giant will be ready to launch the platform by the end of April. For their part, Amazon has refused to comment on the reports and thus neither confirm nor deny the speculation.

In fact, it’s mainstream companies like Starbucks and Reddit that are bringing early blockchain adopters to web3. Given its place as the market leader, Amazon also has the potential to do the same with an Amazon NFT platform.

What NFT Top Guns Say About the Amazon NFT Platform

CEO of Orange Comet, Dave Broome, believes that the move to establish an Amazon NFT platform is a change in the Web3 space. Broomer believes the e-commerce giant will lend legitimacy to digital collectibles. With over 300 million users globally, Broome also believes that Amazon could potentially cause mass adoption of web3.

Similarly, Blur CEO ‘Pacman’ considers Amazon’s foray into the NFT space a positive move. However, he noted that it could be a difficult terrain for the platform to navigate. “I would be surprised if web2 companies make anything compelling in web3,” he said. Launched in October, Blur has been making all kinds of waves. Since its inception, the firm had handled over $3 billion in NFT trading. However, Blur’s strategy has raised questions about the legality of the approach.

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OpenSea Chief Business Officer Shiva Rajaraman is excited about the news of an Amazon NFT platform. Rajaraman believes that all iterations and learning attempts will benefit the entire ecosystem. “We look forward to seeing what use cases they focus on,” he concluded.

What will Amazon focus on?

With the use cases of NFTs ever multiplying, there is a lot of speculation about what Amazon will focus on. At Starbucks, NFTs give customers access to rewards programs. Ticketmaster provides event attendees with digital keepsakes from their events.

Should Amazon go ahead with creating an NFT platform, many believe that the company will easily settle on NFT gaming since it already owns the popular video game streaming platform Twitch.


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