Amazon Will Sell NFTs
By Josh Bobrowsky
Amazon is going to sell NFTs
While the battle between OpenSea and Blur rages on Amazon, the 800 pound gorilla, steps into the room.
According to multiple reports Amazon is set to launch their marketplace in April.1
While I cannot confirm the actual date, it is clear that Amazon has been hiring for multiple roles across the Web 3 sector.
How big is Amazon
Amazon has a market cap that is as big as all of the cryptocurrency markets combined.
Above is an image of the valuation of Amazon as of March 6, 2023 and the value of the entire cryptocurrency market cap. The two are almost identical at nearly $1 trillion each.
What this means for Web 3 and NFTs
My guess is that we will see many NFTs for sale on the Amazon marketplace that will be purchased with credit cards, and the price point will be far lower than what we see on OpenSea/Blur.
If I am Amazon I focus on NFTs that have the following:
A large built in brand of over 3,000 humans
The ability to sell toys or other physical goods
A level of professionalism in their leadership
I expect to see a lot of non-Yuga NFTs sign deals and do partnerships with Amazon.
I will also assume this will mean few to no rugs or pure scams. It would be logical for Amazon to put measure in place to know who the founders are, and have a plan if the founders walk away without fulfilling promises.
After-all, Amazon’s brand is on the line here.
Amazon is hiring
Amazon is hiring roughly 39 new roles to work in their Web 3 department. The salaries are competitive and it appears they are taking the marketplace very seriously.
Conclusion
The future of Web 3 and NFTs is bright. However, that doesn’t mean the future will look like NFTs today. My guess is the future of NFTs is less about speculation and more about entry level NFTs that cost between $10 to $100.
Digital ownership is the future, but we may not necessarily call them NFTs. I’m excited to see what Amazon can do, and curious to see what NFT brands partner with them.
Looking forward to what is next.
Cheers
Josh Bobrowsky
Skybrook Founder & CEO
https://coingape.com/just-in-amazon-nft-marketplace-to-reportedly-launch-next-month/