According to Andy Jassy, Amazon CEO, the e-commerce giant will not be adding cryptocurrency as a payment option anytime soon.
In an interview with CNBC, he said does not own any bitcoin or nonfungible tokens, though it may be possible to sell nonfungible tokens(NFT) on the platform, and expects NFT to grow significantly.
The digital asset existing on a blockchain has reached record levels in terms of popularity in 2021, with NFT artworks selling for millions of dollars.
A few years ago major financial institutions stayed away from accepting virtual currency for payment, though now times are more favorable for cryptocurrency. According to a report trading in NFTs hit $17.6 billion last year, an increase of 21,000% from 2020.
Last year eBay accepted NFTs for digital collectibles such as trading cards, images, or video clips on its platform. It was the first eCommerce company to cash in on the NFT buzz. The company said it has opened the possibility of accepting cryptocurrency as a form of payment in the future.
Snoop Dogg and Son Collaborate with Clay Nation NFT Project on Cardano
UK Tax Department Seized NFTs For the First Time
Animoca Brands subsidiary Lympo and Sports NFT minting platform Hacked for $18.7 million