Sunday, May 26, 2024

eBay steps up its game with NFT sales, likely to accept crypto

Not to be left out, e-commerce giant eBay has amended its policy to allow NFTs to be bought and sold using traditional payment methods. It is also looking at the possibility of accepting cryptocurrencies as a form of payment.

Jamie Iannone, the CEO of eBay, told The Street that the company has just completed its transition to managing payments as it is now managing $85 billion of volume on its platform. eBay has opened up Google Pay and Apple Pay, and collaborated with Afterpay – a buy now pay later platform on the marketplace in Australia.

Iannone highlighted that the company currently doesn’t accept cryptocurrency on the platform but is evaluating it as a form of payment. Pointing out Gen-Z as eBay’s priority target, the executive outlined some initiatives taken by the platform. He said the company’s attention is on transactions related to sneakers as this is one of their growth categories. eBay is appealing to the younger generation selling their sneakers. It is becoming a collectible collector on the platform. Iannone said it’s also building new marketing capabilities.

The executive revealed that transactions related to non-fungible tokens were already happening on the platform, but eBay hadn’t made any announcements about it. Iannone said eBay changed its policies in 2021 to accommodate the trade of NFTs on the platform. He pointed out that even without the announcement, people had been engaged in NFT trading.

Iannone said that eBay will always be a place for people to trade goods and services – digitally or physically. It’s a marketplace for sustainability.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
RELATED ARTICLES

Most Popular