ebay Flirts with Crypto Payments and NFTs

E-commerce heavyweights eBay have hinted at a potential move into the NFT collectibles market. Speaking to business news channel CNBC, ebay CEO Jamie Iannone referenced the importance of the collectibles market within the platform and expressed the desire to include NFTs going forward.

Physical collectibles are a platform mainstay, with $1 billion worth of items traded in the first quarter of 2021 alone. Despite the rumblings, ebay stated that “they have no immediate plans, but they are keeping an eye on it (NFTs)”. Embracing emerging technology can be a make-or-break for even the biggest companies in this cut-throat world. Just ask former photography giant Kodak.

ebay currently offers no support for cryptocurrencies within their infrastructure, although they have flirted with the idea of introducing cryptocurrency and collectables a few years ago which we covered here, but nothing ever materialized.  Subsequently, they have a mountain to climb if they don’t want to be left behind by the competition.

If ebay were to embrace NFTs, and by association cryptocurrencies, it would be a coup for the industry. With such a high-profile market leader showing confidence in the crypto market, digital currencies and NFTs will take another step towards mainstream adoption.

Image credit: via ebay

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