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EBay allows NFT sales on its platform… What does that mean?

 

EBay allows NFT

On Tuesday, Ebay announced an offer to sell NFT tokens for digital holdings such as trading cards, photos or videos on its platform, and is the first e-commerce company to benefit from the recent frenzy and revolution around NFT.


The popularity of digital tokens on blockchain has spread this year, with enthusiasts spending massive amounts of money on artwork and other items only online, with some of them selling for tens of millions of dollars recently at auction houses.


Meaning there are already multi-million dollar deals, including the sale of $ 69 million in digital artwork by "Beeple" in March 2021.


NFTs have revolutionized the art world, as the market for digital collectibles has flourished, ranging from NFT trading cards, pictures or videos…


They can range from the last filming of "Curt Cobain" to the historic moments of the NBA games.


While anyone can view the NFT for free, the buyer has official owner status, which is a kind of digital bragging rights.

What does it mean to add "EBay" to NFT sales?

In the short term, EBay told Reuters that NFT inventory will be made available to sellers who meet eBay criteria, adding that users can expect to see programs, policies and tools in the future that will allow them to buy and sell NFT across a wider range of ratings.

Jordan Sweetnam, Senior Vice President and General Manager of eBay Market in North America, said:

In the coming months, EBAY will add new capabilities that bring blockchain-based acquisitions to our platform.

The announcement comes after eBay said last week that it was open to the possibility of accepting cryptocurrency as a form of payment in the future and was looking for ways to get NFTs on its platform.

NFTs are usually purchased using the cryptocurrency Ethereum or in dollars and the blockchain keeps a record of the transactions.

EBay's entry into the NFT market would give real and huge momentum to this young market and contribute to its further visibility and expansion.

Comments

  1. ShwetaAugust 31, 2021 at 8:53 PM

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  2. gajendraOctober 27, 2021 at 4:42 AM

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  3. XANALIANovember 1, 2021 at 4:16 AM

    Thanku for sharing such a wonderfull post about NFT. best NFT art marketplaces are testing and baiting numerous clients and engineers because the NFT recorded more contrasts inside the exchange rate.

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