eBay looks to bend the curve and officially open NFT trading

In the short term, NFT sales access will only be available to sellers who meet eBay’s criteria.

eBay looks to bend the curve and officially open NFT trading

eBay announced Tuesday that it is allowing the sale of various non-homogenized tokens, NFT, on its platform, the first traditional e-commerce site to publicly allow trading of NFT. eBay (EBAY.US) CEO Jamie Iannone had revealed in an interview with CNBC last week that cryptocurrencies were being considered as a new option for payments. He also said that ebay is looking at ways to enter the NFT space.

NFTs are non-homogenized assets that exist on the blockchain and have created a buzz on social media this year. Among them is digital artist Beeple, whose NFTs have sold for tens of millions of dollars at Christie’s and Sotheby’s. Not only artwork, but also the market for digital collectibles such as NFT trading cards, images or GIFs is emerging at the same time.

These NFTs are so diverse that they can include things like Nirvana’s lead singer and guitarist Kurt Cobain’s last shot, and historical moments from NBA games. While anyone can access these NFTs at any time, only the buyer has ownership of the virtual asset.

eBay has long allowed customers to sell bitcoin on the platform, but previously refused to use the cryptocurrency for transactions. Similarly, many NFT owners have attempted to auction off their digital collections on eBay, although many transactions have taken place off the platform.

eBay also told Reuters that in the short term, NFT selling access will only be available to sellers who meet eBay’s criteria, adding that users will see more about NFT on the eBay platform in the near future.

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