Amazon CEO Andy Jassy Bullish on Crypto and NFTs
Crypto News

Amazon CEO Andy Jassy Bullish on Crypto and NFTs

5 months ago

In an interview with CNBC, Amazon CEO, Andy Jassy, was optimistic about the future of cryptocurrencies and NFTs.

Amazon CEO Andy Jassy Bullish on Crypto and NFTs


Following his first annual shareholder letter as Amazon CEO, Andy Jassy expressed optimism about the future of cryptocurrencies and NFTs in an interview with CNBC. Jassy said that Amazon will not add cryptocurrencies as a payment method for its retail business in the near future but was upbeat about the prospects of crypto and particularly NFTs:

"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. I expect that NFTs will continue to grow very significantly."

Especially the latter could become of interest to Amazon, as Jassy stated that "it's possible down the road" Amazon would sell digital artwork verified on the blockchain.

Amazon's Interest in Cryptocurrencies

The interview is particularly interesting because Amazon has thus far refrained from publicly taking a strong stance on cryptocurrencies. Former CEO Jeff Bezos is among the only influential entrepreneurs that has no famous crypto quotes that disclose his view on crypto.
Still, rumors of Amazon accepting crypto as a payment method or Amazon buying Bitcoin have gone around more than once. They were fueled by the retail giant hiring an "experienced product leader to develop Amazon's Digital Currency and Blockchain strategy and product roadmap" last year. The "Digital Currency and Blockchain Product Lead" was to develop the capabilities they saw fit for the company's overall crypto vision.

Back then, an Amazon spokesperson commented:

"We’re inspired by the innovation happening in the cryptocurrency space and are exploring what this could look like on Amazon. We believe the future will be built on new technologies that enable modern, fast, and inexpensive payments, and hope to bring that future to Amazon customers as soon as possible."

However, unlike MercadoLibre, the "Amazon of Latin America," Amazon never launched crypto payments and is not close to doing so following Jassy's remarks. It will thus not join the likes of Uber and Airbnb, which both have expressed interest in adding crypto payment in the not-too-distant future.

Investors should still keep a close eye on the company's moves in the NFT market.

This article contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). The Third-Party Sites are not under the control of CoinMarketCap, and CoinMarketCap is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. CoinMarketCap is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by CoinMarketCap of the site or any association with its operators. This article is intended to be used and must be used for informational purposes only. It is important to do your own research and analysis before making any material decisions related to any of the products or services described. This article is not intended as, and shall not be construed as, financial advice. The views and opinions expressed in this article are the author’s [company’s] own and do not necessarily reflect those of CoinMarketCap. CoinMarketCap is not responsible for the success or authenticity of any project, we aim to act as a neutral informational resource for end-users.
17 people liked this article