EBay allows NFT sales on its platform…what does that mean?
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Answer EBay allows NFT sales on its platform…what does that mean?
Ebay on Tuesday announced an offer to sell non-fungible NFT tokens for digital collectibles such as trading cards, photos or videos on its platform, and is the first e-commerce company to capitalize on the recent frenzy and revolution around NFT.
Digital tokens on the blockchain have become so popular this year, enthusiasts are spending massive amounts of money on artwork and other online-only items, with some recently being sold for tens of millions of dollars at auction houses.
Meaning there are already multi-million dollar deals, including the sale of $69 million worth of digital artwork by Beeple in March 2021.
Non-fungible NFT digital tokens have revolutionized the art world, as the market for digital collectibles ranging from NFT trading cards, photos or videos to…
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And these things can range from the latest Kurt Cobain photoshoot to historical moments from the NBA games.
While anyone can view the NFT for free, the buyer enjoys official owner status, a kind of digital bragging right.
What does adding EBay to NFT sales mean?
i said EBay told Reuters that in the short term, NFT inventory will be made available to sellers who meet eBay criteria, adding that users can expect to see software, policies and tools in the future that will allow them to buy and sell NFTs across a broader range of ratings.
Jordan Sweetnam, Senior Vice President and General Manager, eBay North America, said:
In the coming months, eBay will be adding new capabilities that bring blockchain-powered collectibles to our platform.
The announcement comes after eBay said last week that it was open to the possibility of accepting cryptocurrency as a form of payment in the future and was looking at ways to get NFTs on its platform.
NFTs are usually purchased with the cryptocurrency Ethereum or dollars and the blockchain keeps a record of the transactions.
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EBay’s entry into the NFT market would give a real and huge impetus to this young market and contribute to its visibility and further expansion.
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