Amazon Moves Into Web3. But Is the World Ready for Amazon Web3?

$Amazon (AMZN.US)$ is rumored to be unveiling a Web3 initiative, according to a report by Blockworks. What this project will look like when it materializes is unclear: It might involve gaming, an NFT marketplace or something in between.
Either the regulatory complexity and uncertainty of doing this will kill the project before it begins, or Amazon has the size and scale to "make the market" on this and bring the Web3 economy into the mainstream.
Flying Blind?
Generally speaking, major blue chip corporations have avoided Web3 because of legal uncertainties. Sure, there have been efforts by payment companies like Visa and Mastercard to integrate stablecoins into their networks, many crypto nodes are hosted on Amazon’s cloud service AWS, and big tech and TradFi firms are regular investors in the crypto economy.
But this doesn’t mean they are stakeholders in the Web3 economy, embracing the ethos of decentralized ownership. Regulatory uncertainty and a lack of clarity interferes. Amazon’s efforts are potentially transformational if it can succeed, which will mean addressing the regulatory issues.