eBay now allows sale of NFTs on the platform

From the major e-commerce giants, eBay has become the first in industry to adopt non-fungible tokens (NFT) mania, as it announced to allow the sale of NFTs on the platform.

eBay now allows sale of NFTs on the platform

According to the report from Reuters on May 11, eBay said that it would enable the sale of NFTs for digital collectibles such as video clips, images,graphics or trading cards on its marketplace.

However, not all are able to list and sell NFTs, it would be open only to whitelisted sellers meaning that the platform may have an authentication protocol for listing NFTs.

The deployment comes based on a recent statement made by eBay CEO Jamie Iannone, who said that the company is exploring the NFT sector.

While commenting on the company's upcoming plans, Jordan Sweetman, eBay’s senior vice president and General Manager for the platform’s North American market stated that the company will add more functionality in near future. 

“In the coming months, eBay will add new capabilities that bring blockchain-driven collectibles to our platform.” said Jordan.

eBay’s foray into the NFT sector is another indication of the growing e-commerce crypto and blockchain adoption. From PayPal to JD.com, online merchants are increasingly interfacing with the emerging tech.

The lately booming NFT space continually goes through increased adoption across different sectors, including from celebrities and sports stars to Businessmen and  millionaires tapping into the NFT industry.