Ebay Inc. announced last Tuesday, May 11, that it will allow the sale of non-fungible tokens (NFTs) for digital collectibles such as commercial cards, images, or video clips on its platform. This was announced by Reuters through a press release where, in addition, it highlighted that it is the first electronic commerce company “to take advantage of the recent frenzy around NFTs”.
“NFTs, virtual assets that exist on a blockchain ledger, have exploded in popularity this year as enthusiasts spend huge sums of money on artwork and other items that only exist online, with some selling recently. for tens of millions of dollars at Christie’s and Sotheby’s auction houses”, Reuters said in the press release.
In the short term, the company told Reuters, an NFT inventory will be provided to sellers who meet eBay standards, adding that users can expect to see programs, policies and tools in the future that will allow them to buy and sell. NFT in a wider range of products and categories.
While the multi-million dollar deals, including the $69 million sale of a digital artwork by Beeple in March, have created ripples in the art world, a market for digital collectibles like trading cards has also thrived. NFT, images or video clips”, he highlighted.
Notably, while NFTs can be viewed by anyone for free, the buyer has official owner status – a kind of digital bragging rights.
“In the coming months, eBay will add new capabilities that will bring blockchain-based collectibles to our platform”, said Jordan Sweetnam, senior vice president and general manager of eBay’s North American market.
Recall that NFTs are generally purchased with the ether or dollar cryptocurrency and the blockchain keeps a record of transactions.