eBay Now Allows the Sale of NFTs on its Platform

E-commerce giant eBay has become the first in its industry to catch the non-fungible tokens (NFT) mania, as the company is now allowing the sale of NFTs on its platform.

• According to Reuters on Tuesday (May 11, 2021), eBay said that it would enable the sale of NFTs for digital collectibles such as video clips, images, or trading cards on its marketplace.
• Meanwhile, the ability to list and sell NFTs would be open only to whitelisted sellers. This could mean that the platform may have an authentication protocol for listing NFTs.
• The latest development comes on the heels of a recent statement made by eBay CEO Jamie Iannone, who said that the company was exploring the NFT sector.
• Commenting on the company’s upcoming plans, Jordan Sweetman, eBay’s senior vice president, and General manager for the platform’s North American market, said:

“In the coming months, eBay will add new capabilities that bring blockchain-driven collectibles to our platform.”

• The NFTs industry continues to see increased adoption across different sectors, with celebrities and sports stars tapping into the NFT industry.
• Meanwhile, eBay’s foray into the NFT sector is another indication of the growing e-commerce crypto and blockchain adoption. From PayPal to JD.com, online merchants are increasingly interfacing with the emerging tech.