Amazon India Shares Metaverse Foray Teaser

Amazon India Shares Metaverse Foray Teaser
  • Amazon India tweeted a teaser of a possible partnership with Decentraland and OnePlus.
  • The tweet signifies that the company is going to enter the virtual land world.
  • India is currently ranked one for the most number of crypto owners.

The official Twitter page of Amazon India just revealed a teaser tweet in regards to their potential collaboration with Decentraland, an Ethereum-powered virtual reality platform. The tweet that was captioned “something new is on the horizon” with hashtags of metaverse, Decentraland, and OnePlus only shows that Amazon India is going to leap into the virtual land world.

The company has yet to reveal any relative details or further tweet after the teaser and how their partnership with Decentraland will go along. 

Amazon in entering blockchain

Amazon does not formally accept crypto payments right now for its products.

However, Amazon has posted numerous job offers seeking experienced developers with blockchain technology. These job postings frequently formulate speculations about how their platform is going to implement blockchain technology. Others also floated the notion of when it will start accepting crypto, or if it will create its own blockchain.

At the moment, Amazon provides a “Managed Blockchain System” that allows users to easily connect with public networks or develop flexible private networks using the popular open-source structures Hyperledger and Ethereum Fabric.

India and crypto’s connection

According to research by Triple-a, India is sitting at the top spot for a country that has the most number of crypto owners in 2021. The research shows that India has 100.7 million unique crypto owners, which is 7.3% of their total population. 

In terms of cryptocurrency adoption, India is currently ranked second in the world next to Vietnam. A huge number of its billion population is digitally literate and has been involved in the crypto space since childhood. In fact, the country even has developers for blockchain projects.

The country, which just recently fined 11 crypto exchanges for tax evasion, also plans to tax cryptocurrency income at 30%. It will also levy a 1% tax deducted at source (TDS) on every crypto transaction. Contrarily, many opposed the suggested rules, saying they are too strict and restrictive. However, these events don’t have much influence on the country’s trading volumes, as more Indians are jumping into the crypto space.

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