eBay has become the first major e-commerce company to venture into NFT sales
E-commerce giant eBay has updated its policy to facilitate the sales of non-fungible tokens, Reuters reports. Initially, the new functionality will be available only to trusted sellers in a few categories.
The former PayPal owner will roll out a set of tools for trading a wide variety of NFTs on the platform, according to eBay’s Jordan Sweetnam:
In the coming months, eBay will add new capabilities that bring blockchain-driven collectibles to our platform
Unlike fungible cryptocurrencies like Bitcoin and Ethereum, NFTs are based on the idea of scarcity, representing unique digital items recorded on a blockchain.
eBay CEO Jamie Iannone recently said that the company was also looking into adopting cryptocurrencies as a form of payment.