AWS Teams Up with Cronos Labs to Boost Blockchain Technology Adoption
Amazon Web Services (AWS) has joined forces with Cronos Labs, a Web3 startup that focuses on DeFi and blockchain games. The aim of this collaboration is to provide support to the Web3 sector, develop DeFi, GameFi, SocialFi, and Infrastructure applications, and increase the adoption of blockchain technology. Cronos Labs announced the partnership on their Twitter account, stating that the Web3 growth will be supported via the Cronos Accelerator Program. CRO, the native token of CRO Protocol Labs, soared by 13% after the disclosure of the collaboration.
CRO Records a Significant Price Increase
CRO Protocol Labs, also known as Crypto.com, saw a significant price increase in the wake of the AWS and Cronos Labs partnership. The native CRO token surged to over $0.075 at one point, which represented a 13% increase in its valuation over the previous 24 hours. However, the coin has been on a massive downfall for the past year, losing more than 81% of its value.
Amazon Considers Launching an NFT Marketplace
There have been reports suggesting that Amazon, the world’s largest online retailer, is considering launching an NFT marketplace. The potential venue, dubbed ‘Amazon NFT Marketplace’ or ‘Amazon Digital Marketplace,’ would offer 15 collections initially, available only to US clients. However, this move may not be a surprise as CEO Andy Jassy previously announced the company’s intention to offer digital art. However, some experts doubt that the launch will be successful given the cryptocurrency market’s recent struggles, which led to a dwindling interest in digital collectibles.
Amazon Has No Plans to Embrace Crypto as a Payment Method
Despite being a significant advocate of blockchain technology, Amazon has no plans to adopt crypto as a means of payment. CEO Jassy reiterated the company’s position, noting that they have no interest in embracing digital assets for payments. Amazon has faced rumors in the past about accepting cryptocurrencies, such as bitcoin, as a payment method. However, the company spokesperson dismissed these rumors, saying the focus is on exploring what this could look like for customers shopping on Amazon.