World Changing: Amazon Enters the NFT game
Yes, it's a very big deal. Here's what you need to know.
Kadeem Clarke
March 08, 2023
🤯 The largest internet business dabbling in NFTs? Shit's about to go down.
Here’s the lowdown on what it means, our predictions, and why you should care 👇
Amazon - No big deal?
WRONG. BIG deal 🦣
🥇World's first Trillion dollar company
🥇310M customers globally
🥇70% of US adults are Prime members
🥇AWS has 32% cloud service market
I'll stop here. But you get the point ☝️
What could Amazon do with NFTs?
🔐 Can you imagine Prime and AWS subscriptions locked behind NFTs? This would mean we say goodbye to passwords and hello to next-level security.
💎 High-tier memberships as non-transferrable NFTs (Soul Bound NFTs) These could be special lifetime memberships for rewarding high-value customers.
💸 Use NFTs in e-commerce, representing real-world assets like electronics. This potentially revolutionises the future of Fulfilment by Amazon (FBA). FBA sellers might be able to use unique NFTs to market products they are selling.
🧸 Create NFT collectibles based on the media content IPs they own. Imagine 'The Boy's NFT collectibles! Or 'Lord of the Rings'! The list goes on as they can provide that service to any of their media content partners.
So what does Amazon stand to gain?
🔹No account sharing = more unique users.
🔹Additional revenue streams through royalties on secondary Amazon NFT sales.
🔹Potential to onboard 310 million of the estimated 420 million crypto users in 2023.
Amazon's not the first
Amazon isn't the first big name to experiment with NFTs.
🔹Starbucks tested reward NFTs on Polygon. 45k pieces so far.
🔹Reddit's avatar NFTs helped onboard 2.5M new crypto users.
But - these are rookie numbers compared to Amazon's potential 310M.
Lessons from Starbucks and Reddit
Crypto tech was thrust onto users, leaving many in the dark. Education hasn't kept up with the boom and those who weren't savvy enough were left behind.
What if Amazon integrated NFTs on the backend?
🔹 No need to be crypto savvy
🔹 Advanced users can leverage the tech
🔹 Full inclusivity, onboard 300 million crypto users immediately
🔹 Low to no impact on user experience
What does this mean for you?
Amazon will make onboarding a breeze. But with tech rapidly evolving, there's no time to waste waiting for your knowledge to catch up.
🚀 Stay ahead of the curve by leveling up your skills now!