24th June 2022 > > eBay.
- Jun 24, 2022
- 1 min read
tl;dr
eBay is ramping up its involvement in non-fungible tokens (NFTs).
Market Snap (at time of writing)
Market Wrap
What happened to 10-years during my one-day absence? Stocks are liking that move, but cryptos don’t seem that bothered.
Curious Cryptos’ Commentary – eBay
In 2021, eBay announced that it was enabling the selling of non-fungible tokens (NFTs). I am not sure how successful that venture was though I am guessing so-so as the company has bought NFT marketplace KnownOrigin:
Details of the acquisition are here:
eBay CEO Jamie Iannone doesn’t agree with my assessment that their current NFT offering was not up to scratch:
“eBay is the first stop for people across the globe who are searching for that perfect, hard-to-find, or unique addition to their collection and, with this acquisition, we will remain a leading site as our community is increasingly adding digital collectibles.”
Not sure I entirely agree with him – I had completely forgotten that eBay had any NFT offering.
But there is a reason for my forgetfulness which is that eBay does not (yet) accept cryptos for payment, which makes the whole process of buying and selling NFTs solely in fiat a little cumbersome and - dare I say it - inappropriate.
And this is why this news is so exciting as it surely paves the way for eBay as a whole to start accepting cryptos. This would be the largest retail outlet adopter of cryptos to date, bringing a whole new audience into the crypto revolution.
Next stop Amazon?
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