eBay has come out to say that it is currently exploring ways to incorporate Non-Fungible Tokens (NFTs) into its platform. The company also revealed that it might start accepting cryptocurrency as a means of paying for goods and services on its platform in the future.
Cryptocurrency has been causing serious wave since it became popular. Major companies around the world have either invested in it or started to accept it as a means of payment for their goods and services. Tesla, for instance, invested the sum of $1.5 billion in the most popular cryptocurrency; Bitcoin. The Electric Vehicle company has also begun to receive Bitcoin in exchange for its products. Other major companies and firms have shown support for cryptocurrency. America’s oldest bank revealed a few months ago that it would begin to transact Bitcoin (and other specified cryptocurrencies) for its customers. Payments facilitators like Mastercard, PayPal, Apple Pay, Google Pay, Samsung Pay, etc., have also incorporated cryptocurrency into their operations.
A statement released by Ebay reads, “We are always looking at the most relevant forms of payments and will continue to assess that going forward. We have no immediate plans, but it is something we are keeping an eye on”. eBay’s Chief Executive Officer; Jamie Iannone in an interview with CNBC confirmed that the company is considering adding cryptocurrency as an option of payment on its platform.
The company disclosed that it is currently exploring various methods of entering into the NFT space. Chief Executive Officer Jamie Iannone said on CNBC that “we’re exploring opportunities on how we can enable it (NFTs) on eBay in an easy way”.
“Everything that’s collectible has been on eBay for decades and will continue to be for the next few decades”, he added.
NFTs and cryptocurrencies have vast advantages for businesses such as eBay; from ensuring that payments are received safely, faster and more efficiently, to eradicating the barriers that come from currency difference issues and country laws. As a business, accepting cryptocurrency will also help to attract new customers.
Ibhadojemu Lucky Emmanuel is a graduate of Education and Economics from the University of Benin. He has a passion for tech and business and has been writing professionally for over a period of five years. He's written across various topics and segments and knew tech-business was it when he first stumbled on it. He has a great passion for music and arts, and wants to visit as many countries as he can someday.
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