Web3 Companies Hunt for Amazon’s NFT

Rumors that global commerce giant Amazon is about to launch an initiative to use NFT is receiving countless positive responses from experts and leaders in the Web3 industry.

Web3 Companies Hunt for Amazon’s NFT

Web3 leaders from well-known projects including Blur, OpenSea and Orange Comet, are giving their views on Amazon’s upcoming product launch using NFT technology in April 2023. upcoming.

Although this is only an estimated time and Amazon has not announced the confirmation yet, the mere fact that the leading commerce site intends to participate in Web3 is a significant development for the entire blockchain industry.

Dave Broome, CEO of NFT studio Orange Comet commented on this move by Amazon:

“This will be a game changer in the digital collectible space. Having a company like Amazon on the market not only helps to legitimize NFT, it also provides an opportunity to bring mass to the web3.”

Amazon shopping site owns more than 300 million users worldwide, so the invention of using NFT will partly popularize blockchain technology to consumers.

With the same opinion, CEO Blur, the emerging NFT exchange has accounts for more than 84% of transactions on EthereumPacman commented on the movement to join Web3 in recent years:

“Whenever new paradigms emerge, it is rare for established organizations to navigate them effectively. Non-tech companies will often fail to attract users. It would be surprising if a web2 company created something new on web3.”

Pacman’s comment indirectly cites Meta’s failure when “trying to eat sticky rice” into the field of Metaverse. According to the financial statement of 2022, the company has Losing up to 14 billion USD for metaverse alone. The recent meta has decided to forgo the NFT . integration feature due to not seeing much value and at the same time intending to try to develop a decentralized social network.

Meanwhile, OpenSea’s Chief Business Officer, Shiva Rajaraman, is optimistic about Amazon’s foray into blockchain and web3. He said:

“I am excited about the intentions of leading companies like Amazon and look forward to seeing what use cases they will focus on. Experimenting to be able to find new ways to scale is beneficial to all of us.”

Objectively, the NFT market is gradually maturing with a wave of reception from well-known brands from many fields. Examples include: Coca-Cola, Starbucks, Samsung, Adidas, Nike, Lamborghini, Gucci and many other reputable companies.

It’s not yet clear what approach Amazon will choose, but some think the commerce site could be well positioned in the “gaming” segment, where it has the greatest potential to generate revenue. Amazon also currently operates Twitch, a popular streaming platform for video game lovers.

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