Cryptocurrency as a payment option not anytime soon says Amazon’s CEO

Cryptocurrency as a payment option not anytime soon says Amazon's CEO

Cryptocurrency, after all, could soon be used to pay for things in Amazon stores. The CEO of Amazon, Andy Jassy, says that the company hasn’t yet reached that point, but it will soon.

On Thursday, he told CNBC that his company isn’t even close to adding Bitcoin as a way to pay for things at its stores at all,  read more for information.

This is one of many things the CEO said. One day, the company might be able to offer non-fungible tokens on its e-commerce platform. Besides that, it was also said by him that he thinks the number of NFTs will grow “substantially.”

A lot of people liked NFTs in 2021, which are digital goods that live on a blockchain. When NFT art has been auctioned off, it has made a lot of money.

There are going to be a lot more important things like Bitcoin and other cryptocurrencies in the long run, but Jassy doesn’t own any.

It used to be that big banks didn’t want to invest in virtual currencies because they thought they were too risky. In the last few years, more and more businesses have been taking them as a form of payment.

Last year, eBay Inc. was the first big company to get in on the NFT craze. On eBay, you can use NFTs to buy things like trading cards, photos, and video clips. eBay has also said that it is willing to accept cryptocurrency, which is like money in other ways.

EBay Taps Into NFT Craze, Allows Sale On Platform

Non-fungible tokens will be accepted for digital items like trading cards, photos, and videos on eBay’s service from now on, the company said on Tuesday.

To get in on the non-fungible tokens craze, this is the first business to do so. Because it does business online, this makes it the first one to do this (NFTs).

They are called “NFTs,” or “virtual assets that live on a blockchain ledger.” They have become very popular this year.

People spend a lot of money on art and other things that can only be bought on the internet, like clothes. It has been a good few months for Christie’s and Sotheby’s to sell some things for a lot of money.

Several deals, including one by Beeple in March, have led to a lot of talk about art. This is because they are very important.

During the same time, there has been a rise in the popularity of digital collectibles, like NFT trading cards and photos or short videos.

It shows when Kurt Cobain took his last picture and when NBA games were important. Seeing the NFTs for free doesn’t make anyone a real owner.

The person who buys them is the real owner. A trophy case in the digital world is the same as having a trophy case in the real world but in the digital world.

People who meet eBay rules in the short term will get NFTs. People will be able to buy and sell NFTs for more different things soon.

“We will be adding new features that will allow us to bring blockchain-based goods to our platform in the next few months.”

Before, the company said it was open to the idea of accepting cryptocurrency as a form of payment in the future and that it was looking into ways to add NFTs to the platform, which is what it is doing right now, as well.

You can buy NFTs with money or with the ether. NFTs are written down and kept in a record on the blockchain.

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