With the use cases of NFTs constantly multiplying, there are many speculations as to what Amazon will focus on.
Top players in the NFT space have adjudged the rumors of an Amazon NFT platform to be a potential game changer.
The rumors started swirling about the platform after Amazon CEO Andy Jassy noted the e-commerce giant may sell NFTs. Since then, different reports have emerged outlining how the company could 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. On their part, Amazon has declined to comment on the reports thus failing to confirm or deny the speculations.
Indeed, it is regular companies like Starbucks and Reddit that are onboarding early blockchain adopters into web3. Given its place as a market leader, Amazon also has the potential to do the same with an Amazon NFT platform.
What NFT Top Guns Are Saying about Amazon NFT Platform
CEO of Orange Comet, Dave Broome believes that 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 over 300 million users globally, Broome also believes that Amazon can potentially cause mass adoption of web3.
Similarly, Blur CEO ‘Pacman’ considers Amazon’s foray into the NFT space as a positive move. However, he noted that it might be a difficult terrain for the platform to navigate. “ I would be surprised if web2 companies make something compelling in web3,” he said. Blur, which launched in October, has been making all kinds of waves. Since its establishment, the firm had handled over $3 billion in NFT trading. However, Blur’s strategy has raised questions about the legality of its approach.
Chief Business Officer at OpenSea, Shiva Rajaraman, is excited about the news of an Amazon NFT platform. Rajaraman believes that any 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 constantly multiplying, there are many speculations as to 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 to create an NFT platform, many believe the company will easily settle around NFT gaming since it already owns the popular video game streaming platform Twitch.
An experienced writer with practical experience in the fintech industry. When not writing, he spends his time reading, researching or teaching.
