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.
