CDS Crypto News Is Amazon NFT Platform a Gamechanger?
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Is Amazon NFT Platform a Gamechanger?

Is Amazon NFT Platform a Gamechanger?

Industry Leaders in the NFT space have assessed that rumors about Amazon’s NFT platform could be a game changer.

Is Amazon NFT Platform a Gamechanger?
Is Amazon NFT Platform a Gamechanger? 1

Is Amazon NFT Platform a Gamechanger?

Rumors came up circulating after Amazon CEO Andy Jassy noted that the e-commerce giant might be selling NFTs. Various reports have been published detailing how the company will move forward with the initiative.

Despite of the fact that some reports even say that the company will launch the platform by the end of April, Аmazon declined to comment on the reports, thus neither confirming or denying the speculations. In fact, regular companies like Starbucks and Reddit are early adopters of blockchain into web3. Thereby, it’s possible that Аmazon, as a market leader, will do the same with its Аmazon NFТ platform.

Is Amazon NFT Platform a Gamechanger?
Is Amazon NFT Platform a Gamechanger? 2

Dave Broome, CEO of Orange Comet, believes the move to establish the Аmazon NFТ platform is a game changer in the Web3 space. According to Broomer, the e-commerce giant will bring legitimacy to digital collections. With more than 300 million users worldwide, Broome also believes Аmazon has the potential to drive mass web3 adoption.

Likewise, Blur CEO “Pacman” sees Аmazon’s foray into the NFТ space as a positive move. However, he noted that navigating the platform could be difficult.

“ I would be surprised if web2 companies make something compelling in web3,” said Blur CEO.

Blur, which was launched in October, made a lot of noise. Since its inception, the company has conducted over $3 billion worth of NFТ trades. However, Blur’s strategy has raised questions about the legitimacy of their approach.

OpenSea Chief Business Officer Shiva Rajaraman believes that all iterations and learning efforts will benefit the entire ecosystem. “We can’t wait to see what use cases they focus on,” he concludes.

As NFТ use cases continue to grow, there is a lot of speculation about what Аmazon will focus on. At Starbucks, NFТ gives customers access to rewards programs. Ticketmaster provides event attendees with digital souvenirs of their events. As Аmazon continues to build the NFТ platform, many believe the company will have no trouble handling NFТ games since it already owns Twitch, a popular video game streaming platform.


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Written by

The author is 28 year old student recently graduated from Celal Bayar University, Faculty of Medicine. Currently he works as a writer and translator for different platforms.

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