eBay has jumped on the non-fungible tokens (NFT) and blockchain technology bandwagon and will soon be allowing the sale of NFTs on its platform.
NFTs have recently gained momentum and quickly became a household name as more and more individuals threw their weight behind the digital currency.
Simply put, NFTs are virtual assets that exist on a blockchain ledger and exist only online. NFTs are anything from trading cards and images to artwork that sells for millions of dollars.
People can view the NFTs for free while the buyer of NFT becomes the official owner and gets a token for their efforts, ultimately obtaining bragging rights.
“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,” said eBay’s Jordan Sweetnam in a blog post.
“This is only the beginning. This initial roll-out will help us learn more about what’s important to our community. Expect to see programs, policies, and tools that will allow our audiences to buy and sell NFTs with greater ease and confidence, across a broader range of categories.
“NFTs offer greater access to a broader audience of collectors and creators. In the same way, digital publishing brought more exposure for writers, digital collectibles bring greater opportunity for artists and creators. We plan to double down on this idea – combining eBay’s global reach with the principle that anyone can find almost anything on our platform. This premise is what makes NFTs on eBay so exciting, and why we want to partner with creators, sellers, and brands who share our commitment to maintaining an open marketplace.”
eBay has added that in the coming months it will add new capabilities that bring blockchain-driven collectibles to the platform.
The announcement comes after eBay’s recent announcement that it was open to the possibility of accepting cryptocurrency as a form of payment in the future. |
Business Report