EBay The Marketplace Giant Will Pursue Crypto Payment Solutions
EBay, the marketplace giant, will pursue crypto payment solutions for its customers, as well as look at ways to add nonfungible tokens (NFT) on the website, CEO Jamie Iannone told CNBC on Monday.
A growing number of companies have begun to accept cryptocurrency as their payment system.
According to CEO Jamie Iannone, eBay will be “looking at it and exploring opportunities” to enable nonfungible tokens.
Let’s look at what he said more to CNBC and when they will start to accept it.
ebay Pursue Crypto Payments Solution
eBay has the possibility of accepting cryptocurrency as a form of online payment. At the same time, they are also looking at ways to get NFT on its platform.
Though according to the CEO statement, they have no immediate plans. But they are interested in doing it.
In an interview with CNBC today, eBay CEO Jamie Iannone said,
One of the great things about eBay is that it just shows up on eBay when there is a new trend. That is what we are seeing in areas like NFT, which we are looking at how can we explore that better.
“We are currently looking at a number of ways to innovate in this space and we are excited about the underlying capabilities and how the blockchain-driven collectibles bring trust and authenticity, key components of a marketplace, to the digital space,” an eBay spokeswoman said in an emailed statement.
He also added that we’re exploring opportunities on how we can enable it (NFTs) on eBay easily.”
According to the Cointelegraph report,
Sections of NFTs were already transacting on the website, but eBay had not yet made the process easier for buyers and sellers.
Some users can still list Bitcoin (BTC) for sale on the website, despite eBay explicitly prohibiting such auctions.
What Is NFT
NFT is a non-fungible token that has exploded in popularity in this year 2021. It is a digital asset that operates on a blockchain. Besides, it is unique and cannot be replaced with anything else.
With the help of this digital asset, NFT artworks are selling for millions of dollars and musicians like Kings of Leon endorsing them for their new album.
Besides, Tesla Inc. also accepts bitcoin as payment for its electric vehicles. Moreover, the online payments giant PayPal allows users to purchase, sell, and carry cryptocurrencies using its online wallets last year.