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E-commerce giant eBay to allow sale of NFTs on its platform

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eBay is venturing into the thriving non-fungible token space by including the sale of NFTs in its ‘tech-led reimagination’.

“In the coming months, eBay will add new capabilities that bring blockchain-driven collectibles to our platform,” the company stated in an announcement post to its 187 million global users.

This will enable its audience to buy and sell NFT content directly on the platform.

“Expect to see programs, policies, and tools that will allow our audiences to buy and sell NFTs with greater ease and confidence, across a broader range of categories,” eBay senior vice-president Jordan Sweetnam said.

Considered one of the first E-commerce companies to offer such a service, the announcement noted that initially the rollout would involve a select number of trusted sellers who were able to meet eBay’s standards ‘across categories like trading cards, music, entertainment and art’.

It was earlier this year that it was reported by Crypto News Australia that eBay was considering supporting digital currencies and NFTs.

The move is further evidence of the power of NFTs, a space that is drawing the attention of not only international auction houses and art galleries, but also sporting superstars and musicians.

Just last month, Argentine football star Lionel Messi’s sign-on fee with Paris St Germain includes some of the French club’s cryptocurrency fan tokens.

Fan tokens are a type of cryptocurrency that allow holders to vote on mostly minor decisions related to their clubs. Among clubs to launch tokens this year are English Premier League champions Manchester City and Italy’s AC Milan. Messi’s former club Barcelona launched one last year.

When it comes to the acceptance of digital currencies, companies are increasingly supporting them, and rightly so, given the latest data by Deloitte Consulting LLP showed that 76 per cent of the Financial Services Industry experts surveyed believed that digital assets were set to replace fiat currency in the next five to 10 years.

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