Amazon CEO Believes in Crypto Long Term, Amazon Could Sell NFTs in the Future 11

Amazon CEO Believes in Crypto Long Term, Amazon Could Sell NFTs in the Future

Summary:

  • Amazon CEO, Andy Jassy, believes cryptocurrencies will become more significant over time
  • Mr. Jassy admits he does not own Bitcoin nor NFTs
  • Amazon could sell NFTs in the future
  • However, the online retailer is not keen to add crypto payments to the platform.

Amazon CEO Andy Jassy, who replaced Jeff Bezos in mid-2021, believes cryptocurrencies will become more significant over time. Mr. Jassy shared his analysis of the crypto industry in an interview on CNBC’s Squawk Box. He also clarified that Amazon would not be integrating crypto payments on the platform soon.

In addition, Amazon’s CEO clarified in the CNBC Squawk Box interview that he did not own any Bitcoin nor Non-Fungible tokens. He said:

I don’t have bitcoin myself..

We’re not probably close to adding crypto as a payment mechanism in our retail business, but I do believe over time that you’ll see crypto become bigger.

Amazon Could Sell NFTs in the Future

However, Mr. Jassy was keen to add that Amazon could sell NFTs in the near future. He stated that he expected NFTs to continue growing at a significant rate, and the company could sell them down the road. NFTs could be ideal for the online retailing giant as it also sells digital music and books.

Furthermore, NFT sales would be in a similar trajectory to Amazon’s competitor, eBay, which opened the doors to NFT sales on the platform back in May 2021.

Amazon is Keen to Add Web3 Technology to its Business

In July of 2021, Amazon advertised a position for a digital currency and blockchain product lead with a focus on Web3 products.

The job description requested a knowledgeable candidate in blockchain, distributed ledger technology, central bank digital currencies, and digital assets. Additionally, the ideal candidate would work closely with Amazon’s AWS teams to develop a roadmap for potential product offerings.