As per the speculations, Amazon is bringing the Web3 initiative as per Blockworks. The future outlook of the future hasn’t been disclosed yet. It can be a gaming project, an NFT platform, or a combination of both. However, the compliance aspect of the project is going to make this project very difficult. The effort of Amazon to bring Web3 into the mainstream might not sit well with the compliance management for this newly arising technology.
Has amazon thought it through?
The legal uncertainties lying with Web3 make it very difficult to become a thing of the mainstream. For the same reason, most blue-chip corporations have been seen avoiding Web3. There is no denying the fact that companies have tried to accept the stablecoin by providing several new products like Visa, Mastercard, etc. However, the main Web3 has still not succeeded in being the talk of the town. The decentralization of ownership is still a big turn for companies.
The unclear authority and regulations also force companies to avoid this new technology. However, if Amazon succeeds in bringing Web3 into the mainstream, the regulatory aspects can also be resolved.
Many speculators say that Amazon might stay away from NFTs in its new initiative. It will be because whether NFTs are considered securities is still jeopardized. However, the legal authorities are addressing the concern under Friwl v. Dapper labs. As a result, it has been able to gather the attention of several bigshot names of legal authorities.
The give and take of Friel and Dapper also include vertical and horizontal commonalities. For example, the valuation of every item will be done by the horizontal commonality, while the vertical commonality will do the value of moments. However, the Dapper says that the vertical commonality doesn’t exist as there is no connection between the Moments collector’s wealth and the Dapper.
