EBay Explores Go-to-Market Opportunities for NFT

The CEO of eBay said the company is exploring the possibility of adding support for cryptocurrency payments and non-fungible tokens (NFT).

As eBay CEO Jamie Iannone said in an interview with CNBC, the company does not rule out the possibility of adding cryptocurrencies to the platform in the future.

“We are expanding the types of payments we accept,” he said, pointing to non-cryptocurrency payment platforms such as Apple Pay and Google Pay.

He added that the company plans to “continue to consider other options, such as cryptocurrencies.” Aside from this, Iannone noted that eBay is also looking into the NFT market.

“We are exploring NFT and how we can easily add this functionality to eBay,” Iannone said.

An NFT is a tokenized version of a digital or real asset that exists in one instance. In the form of NFT, in-game items, works of art and collectibles, as well as other rare and indivisible objects are tokenized.

Dapp developers use NFT to create unique digital items. According to DappRadar, in the first quarter of 2021, NFT sales exceeded $ 1.5 billion.

At the moment, eBay has no specific plans as to how and when exactly support for cryptocurrencies or NFTs can be added to the platform.

Previously, information has repeatedly appeared that the largest online auction site plans to start accepting cryptocurrencies for payment. However, eBay denied such claims.

Recently, the mobile payment service Venmo, owned by PayPal, added a direct buy and sell feature for four cryptocurrencies: BTC, ETH, LTC and BCH. Earlier, PayPal added support for cryptocurrency payments for 29 million merchants.