eBay has allowed the sale of non-fungible tokens for digital collectables like trading cards, images or video clips on its platform. This marks eBay as the first e-commerce company to do so.
NFTs (short for non-fungible tokens) have exploded in popularity since the previous year, as enthusiasts spend tremendous money on artwork and other items available on the marketplace. Some of these tokens are sold for tens of millions of dollars recently at auction houses Christie’s and Sotheby’s.
NFTs could range from something like Kurt Cobain’s last photoshoot to historic moments from NBA games. While anyone can view the NFTs for free, the buyer has the status of being the official owner.
After this announcement, eBay’s senior vice president and general manager Jordan Sweetnam said, “In the coming months, eBay will add new capabilities that bring blockchain-driven collectibles to our platform.”
This announcement comes after a week when eBay stated that it was open to the possibility of accepting cryptocurrency as a form of payment. They also stated at that time that they’re looking for ways to get NFTs on to their platform.