E-commerce giant eBay Inc has recently allowed the sale of NFT for digital collectibles like trading cards, images, or videos on its platform. This move makes eBay the very first e-commerce company to jump into the recent trend around non-fungible tokens. eBay Inc to Allow NFT Sales Amid Frenzy Non-fungible tokens or NFTs are the virtual assets that exist on a blockchain ledger and have risen in popularity this year as the enthusiasts spend huge amounts of money on artwork and other items that exist only online. Some of the tokens are being sold for tens of millions of dollars in recent months at Sotheby’s and Christie’s auction houses. While multi-billion dollar deals, involving the $69 million sales of digital artwork by Beeple in the month of March have managed to create ripples in the world of art, a market for NFT trading cards, image, or video clips has also thrived alongside. The e-comm company wrote: “Recently, we’ve seen a massive wave of attention, media coverage, and online conversation around high-end collectibles – or what many are calling alternate assets. Interest and investments have spanned everything from trading cards and comics to collectible sneakers and art.” In addition to this, the company revealed: “Today we are updating Ebay’s policy to include the sale of NFTs. In the short term, NFT inventory will be provided by trusted sellers who meet our high standards, across categories like trading cards, music, entertainment, and art.” Jammie Iannone on Considering Accepting Cryptocurrencies as Payment The company addressed the possibilities that are likely to occur and said: “In the coming months, eBay will add new capabilities that bring blockchain-driven collectibles to our platform.” Jamie Iannone, the CEO of eBay revealed earlier this month that the company is considering accepting cryptocurrency as payment, and said: “We are expanding the types of payments that we take. We now take Apple Pay and Google Pay. More choice for buyers … We will continue to look at other options, like cryptocurrency.”
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