Amazon CEO Bullish on NFTs, Less So on Crypto Payments

April 19, 2022, 11:15 AM AEST - 1 month ago

Amazon CEO Andy Jassy has revealed that the e-commerce giant does not have any plans of integrating cryptocurrency payments, though it is considering adding non-fungible tokens (NFTs) to its retail business, according to an interview with CNBC.

While admitting he does not personally own bitcoin or NFTs, Jassy said he was optimistic about the future of cryptocurrencies and NFTs in particular.

On the subject of Amazon’s plans for crypto integration, he said:

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.

Andy Jassy, CEO, Amazon

Outcomes So Far Fail to Match Intentions

Amazon has in the past spoken of its interest in cryptocurrencies when rumours were circulating that the digital behemoth would be accepting bitcoin as payment by the end of 2021. The possibility of a native token was also a topic of discussion at the time. Amazon even went as far as hiring blockchain experts to expand its reach into DeFi.

Amazon CEO Andy Jassy. Source: the verge.com

Jassy also told CNBC that he expected NFTs would continue to grow significantly and that he could envision a future where Amazon sells NFTs: “I think it’s possible down the road on the platform,” Jassy noted after replacing  Jeff Bezos as CEO of Amazon last year. Jassy had previously led Amazon Web Services since its inception last year.

Asked whether he personally owns cryptocurrencies, Jassy disclosed: “I don’t have bitcoin myself.”

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