eBay Announces Its NFT Sale

eBay announces its NFT sale
  • eBay allows the sale of NFT for digital collectibles.
  • NFT’s have been blown up in popularity by celebrity figures.
  • eBay plans to add cryptocurrency as the payment option in future.

eBay allows the purchase and sale of NFT on its platform for digital collectibles like images, videos, and trading cards.

NFT are one-of-a-kind digital assets which are stored on a blockchain ledger and certifies the owner. An NFT can’t have more than one owner, and only certified owners can sell it.

NFT’s Popularity Hit

Moreover, NFT’s have surged in popularity this year, especially by celebrity figures like Mark Cuban and Gary Vaynerchuk. And some freaks spending millions on digital artwork like Beeple and other items online.

In addition, it includes the NBA top shot, which is the “Disaster Girl” meme. And the digital artwork done by Mike Winkelmann known as “Beeple” was sold for $69 million.

Consequently, eBay is about to launch programs, policies and tools that will let customers buy and sell NFTs over a broad range of categories. Also intends to add new services to its platform, likely to bring blockchain-powered collectibles.

Jordan Sweetnam, senior vice president and general manager for eBay’s North America market says

“Our open platform is a big part of why eBay is so successful, and that won’t change. NFTs provide access to a larger audience of collectors and creators. In the same way that digital publishing has given writers more exposure, digital collectibles have given artists and creators more opportunities.” 

Following the announcement of eBay last week, it has chances of adding cryptocurrency as payment option in future on its platform.

Additionally, NFTs are purchased with the cryptocurrency ether or in US dollars, while the blockchain records all transactions.

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Cryptocurrency and blockchain tech interest has enticed Carolyna to write for NewsCrypto. She made her personal mission to help non-crypto geeks to understand the technology with ease.