Could Crypto And NFTs Come To Amazon?

April 16, 2022 10:28 pm

The CEO of Amazon, Andy Jassy, recently spoke about the company’s optimistic perspective about the future of crypto and NFTs in an interview last week.

The executive of the e-commerce giant has stated that the industry will likely continue to grow significantly over time.

With this being said, investors are already asking the question on whether or not the company sees the possibility of using crypto as payment for e-commerce.

To answer that question, the CEO has revealed that such a move is probably still too early and that the company is not quite ready for it yet.

On the flip side, the statement does not remove the possibility of using crypto either.

After all, seasoned crypto investors have seen large companies and institutions completely change their minds when it comes to their thoughts on the emerging industry.

News.Bitcoin.com reports:

Regarding whether Amazon will accept cryptocurrency for payments of products on its platform, the CEO affirmed, “We’re not probably close to adding crypto as a payment mechanism in our retail business.” However, he noted:

I do believe over time that you’ll see crypto become bigger.

Commenting on whether he owns any cryptocurrency, the Amazon executive disclosed, “I don’t have bitcoin myself.”

When asked whether Amazon could one day sell NFTs, Jassy replied, “I think it’s possible down the road on the platform.” While revealing that he does not own any NFTs personally, the Amazon boss opined:

I expect that NFTs will continue to grow very significantly.

Amazon has also reportedly been hiring experts within the crypto industry for multiple strategic initiatives which might indicate that something might be in the works in the long-term.

For example, there have been job postings where the roles specifically focus on driving adoption among the crypto community.

Such job postings already reveal that there is tremendous interest within the space and that the e-commerce giant is looking to take advantage of the benefits of crypto in some way.

Whether or not the roadmaps that are being worked on involve e-commerce transactions is still unknown, but investors expect any integration with Amazon’s system would be a major boost for crypto in general.

After all, Amazon takes up a large percentage of all online sales and has multiple consumer platforms that could accelerate mainstream adoption.

TheStreet.com reports:

“To say probably not means to be indecisive, where you’re not fully saying ‘yes’ or ‘no’ and you’re not too sure about a certain situation unless it’s presented to you in the right manner,” one person said on Twitter.

“While they publicly are saying that they are not adding crypto payments at this time, I’m positive that they are working on it in the background,” another person said.

“Therefore, looking past the PR, I’m sure that within Amazon they are working on such crypto projects in the background.”

“If you do some google searches and look at the jobs they are hiring for, roads point towards both NFTs and experimenting with crypto,” another post read.

Anything is still possible as the past few years have shown and early investors will be the ones to gain the most.

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