Amazon will not accept crypto anytime soon, but NFTs will may have a chance- the coin leaks

Amazon will not accept crypto anytime soon, but NFTs will may have a Chance

The Coin Leaks News: Despite the growing popularity of cryptocurrency and the acceptance of Ethereum (ETH), Bitcoin (BTC), and Ethereum (ETH), not all companies are ready yet to embrace crypto.

In particular, Amazon Inc (NASDAQ : AMZN), an e-commerce giant, is not interested in jumping on the crypto bandwagon at the moment, according to Andy Jassy, its Chief Executive Officer, in an interview with CNBC published April 14.

Jassy also expressed optimism about the future of crypto in general and said that:

“We are not likely to add crypto as a payment method in our retail business. But I believe that crypto will grow over time.”

Jassy was asked by the host if Amazon might sell non-fungible tokens or NFTs. He is not a Bitcoin owner nor NFT owner but he said that he could see a future where Amazon starts selling NFTs.

He said,

“I believe it’s possible down-the-road on the platform.”

The interest of the competition in crypto

If Amazon decides to offer this option, it would follow in the footsteps eBay Inc.

Since May 2021, Amazon’s biggest competitor, eBay (NASDAQ: EBAY), has permitted the sale of NFTs to digital collectibles such as trading cards, images or videos. It also indicated its willingness to accept payments in digital currencies as soon as possible.

Many believed that Amazon was also on track to introduce crypto payments. In July 2021, Amazon posted a job advertisement in which it needed an “experienced product leader to help develop Amazon’s Digital Currency strategy and product roadmap.”

In the meantime, increasing numbers of companies are accepting cryptocurrencies for payment for their products and services. This has helped the emerging asset class to grow in popularity and acceptance around the globe.


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