Even though the NFTs craze seems to have subsided recently, there are companies actively working on getting into the market. One such company is eBay that will now let you sell NFTs (non-fungible tokens) on its platform. This means now one will be able to purchase digital stuff from the app along with the normal physical items. eBay is well known for its network and collection of rare items on sale, so NFTs will be an amazing addition to the excellent platform. This is because the selling point of an NFT is its unique nature.
eBay has entered the NFTs market
The Senior vice president of eBay announced that the company would let users buy and sell NFTs (non-fungible tokens) on their app. This option will be added to the app in a few months. And with the advent of NFTs on eBay, the company will officially enter the crypto and blockchain market. We could also see them accepting Bitcoin and other cryptocurrencies for payment very soon. This is because most often, NFTs are paid for in terms of a cryptocurrency which is mostly Ethereum.
The company has also announced the same that they were open to accepting crypto as a payment method on their app. This will actually be a big step for the company and also for the market as we could see even other companies follow suit. Just think how big it will be if we see Amazon and some other big e-commerce sites embrace NFTs and bring crypto payments.
How will the NFT sales work?
On having purchased an NFT from the platform, eBay will most probably take the responsibility of altering the blockchain and add the buyers’ signature on the item. This is probably why they are taking some time before they add this option to the app. So there are no issues regarding the same. eBay hasn’t yet clarified whether they will pass the payments as cryptos or in dollars to the seller. But I do hope that it is a cryptocurrency.
What are your thoughts on the addition of NFTs to eBay? And are you excited about selling or purchasing something? Let us know in the comments below. Also, if you found our content informative, do like it and share it with your friends.