eBay, which is known to be the world’s biggest and trusted e-commerce store, is planning to add NFTs and crypto payments to keep up with modern technology. The yearly revenue of eBay crosses $10 billion as countless people use this platform for shopping purposes across the globe. NFTs and crypto payments are trending in the current era as it is the modified technology being adopted by many institutions for the sake of relevant business expansion, so the trend inspired eBay to look forward to taking the step.
Jamie Iannone, the Chief Executive Officer (CEO) of eBay, appeared in an interview on CNBC in which he disclosed the firm’s intentions that the company is looking into the payments options and it is just a plan to include NFTs and cryptocurrency for payment purposes. In addition, she stated that the company is exploring the opportunities for the said purpose and how NFTs sales can be enabled to operationalize the feature on eBay.
In the current era, many companies have been adapting the crypto and blockchain technology, and a wide range of companies have already begun accepting virtual assets or cryptocurrencies for payment purposes. For instance, Tesla inc. facilitating the customers by means of accepting Bitcoin for payment purposes, PayPal is also accepting Bitcoin and allowing customers to purchase, sell and hold Bitcoin. Food chains like MMG and Aviation academy have also started dealing in crypto assets. The purpose behind such firms and financial institutions’ adoption of crypto and NFTs is to become part of the mainstream of advanced finance and technology.
In a statement to Reuters, eBay disclosed that the company is already looking into different relevant and possible payment forms, and they don’t have any immediate plans to implement such payment methods as they will properly investigate, examine, and then will inculcate crypto-assets into the business.
Moreover, the CEO made it very clear that right now, they are just looking and planning and exploring the opportunities for enabling the NFTs on eBay’s platform. eBay is taking an interest in NFTs as this is the most advanced form of digital assets accessible on blockchain technology and, to some extent, has relevancy to eBay’s e-commerce business. eBay is on the route to follow and compete with the competitors and keep up with the modern ways as adopted by Paypal and other firms, so is the part of the plans depicted by eBay to own the NFTs and crypto payments in the near future.