Amazon to Sell NFTs? Here’s What CEO Andy Jassy Told CNBC

Key takeaways:

• During a CNBC interview on Thursday, Amazon CEO Andy Jassy offered his perspective on a number of topics, including crypto and NFTs
• Jassy revealed he doesn’t own Bitcoin and said Amazon is not close to adding crypto as a payment method
• When asked about NFTs, the CEO revealed he expects the sector to grow “significantly”

Amazon CEO Andy Jassy doesn't own Bitcoin but is big on NFTs

Speaking with Andrew Ross Sorkin in a CNBC interview on Thursday, Amazon (AMZN) CEO Andy Jassy touched on several different topics, including supply chain challenges, growing inflationary pressure, US’ domestic chip-making capabilities, and more. 

Once the discussion reached crypto and blockchain topics, the CEO revealed he doesn't own any Bitcoin, but did say he expects the cryptocurrency industry to grow beyond its current scope. “I do believe over time that you’ll see crypto become bigger,” said Jassy, who replaced Jeff Bezos as Amazon’s chief executive last July.

The host inquired about Amazon’s digital asset plans and the possibility of cryptocurrencies being accepted as payment. Jassy said the company is currently not close to integrating crypto payment rails. For context, Amazon was looking to hire a blockchain specialist last year to help develop the company’s “Digital Currency and Blockchain strategy and product roadmap.”

Later on in the interview, the discussion shifted to non-fungible tokens (NFTs). The CEO revealed his bullish stance on digital collectibles and added he expects the sector to “grow very significantly.” Moreover, Jassy said Amazon could sell NFTs in the future.

The $NFT sector saw tremendous growth in the past year, reaching the $15 billion market cap milestone and $5 billion in trading profit in 2021, according to a report by NonFungible. As a side note, the most expensive unique digital item sold to date was Mike Winkelmann’s digital art piece "The First 5,000 Days". The $NFT was sold last March for more than $69 million in an auction held by Christie’s.

What Plans for NFTs Have the Largest Social Networks Announced?

A number of traditional companies have been looking to make inroads into the $NFT market in recent months. Case in point, social media giants Instagram, Youtube, Twitter, and Reddit have all announced their respective plans to capture a share of the booming market.