The Non-Fungible Token (NFT) market could be on the cusp of a game-changing moment, with Amazon rumored to be preparing to launch an NFT platform that could potentially bring blockchain technology to its 300 million active users worldwide, media reports said.
While Amazon has yet to officially confirm its plans, industry leaders believe that the e-commerce giant’s entry into the digital-asset space could help help NFTs onboard the masses into Web 3, and lend credibility to an area that has been dominated by first-time CEOs running fledgling companies.
As reported by the Block, Dave Broome, the Chief Executive (CEO) of Orange Comet, which is an NFT studio, stated that “This will be a game-changer in the NFT, digital collectibles space,”. According to him, Amazon’s marketplace entry will not only validate NFTs but also give non-tech individuals a chance to experience the benefits of Web 3.
The current speculations about Amazon selling NFTs began last year, as announced by Amazon’s CEO Andy Jassy. However, since then, the reports have speculated different opinions on how the NFTs are going to work within the NFT ecosystem.
Although rumors about Amazon’s foray into the NFT market have been circulating for some time, the retail giant has yet to confirm its plans and has not specified which types of digital assets it will offer on its platform.
Despite widespread speculation, Amazon has not officially confirmed its plans to enter the NFT market. When asked about a report claiming that the company was preparing to launch an NFT platform by next month, Amazon declined to comment. As of now, it is unclear what types of digital assets Amazon might offer on its platform or where they might be available.
However, industry leaders believe that Amazon’s entry into the NFT space could be a game-changer, offering an opportunity to onboard more people new to blockchain and bringing credibility to an industry that has been dominated by first-time CEOs running fledgling companies.
