eBay is allowing the sale of non-fungible tokens (NFTs) for digital collectibles on its site. The digital Collectibles like trading cards, images, or video clips on its platform. It is the first e-commerce company to tap into the recent frenzy around NFTs.
NFTs, virtual resources that exist on a blockchain ledger, records have detonated in fame this year. Many fans spend tremendous amounts of money on artwork and different items that exist only on the web. Some of the selling happened in millions recently at auction houses Christie’s and Sotheby’s.
In March, multi-million-dollar deals, including $ 69 million in sales of digital artwork by Beeple, have created ripples in the art world. The market for Digital collectibles such as NFT trading cards, pictures, or video clips has also done well alongside.
“In the coming months, eBay will add new capabilities that bring blockchain-driven collectibles to our platform,” said Jordan Sweetnam, senior vice president, and general manager for eBay’s North America Market.
Will give an NFT inventory to vendors who fulfil eBay’s standards. The company told Reuters that users could expect to see programs, policies, and tools in the future that will allow them to buy/sell NFTs across different categories.
Last week’s announcement by eBay showed the possibility of accepting cryptocurrency as a form of payment in the future. And also said that the company was seeing approaches to get NFTs on its platform. NFTs are usually bought through cryptocurrency Ether or in dollars, and blockchain keeps a record of transactions.
