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Renowned online shopping site, eBay, best known for its auctions and consumer to consumer sales, is considering accepting cryptocurrency as a payment method. The online marketplace is further open to exploring the Non-Fungible Token (NFT) industry.

In a recent interview with CNBC, eBay CEO, Jamie Iannone, said that the company is looking at adding other payment options such as cryptocurrency. Iannone further mentioned that eBay would be exploring opportunities to enable NFTs on the platform.

“One of the great things about eBay is that when there is a new trend it just shows up on eBay. That’s what we are seeing in areas like NFT, which we are looking at how we can explore that better, because eBay is really known as the place to transact goods,” said eBay CEO, Jamie Iannone.

Iannone mentioned that NFTs were already transacting on eBay, but the company is yet to simplify the process for buyers and sellers. Iannone went on to state that: 

“We are looking at it and exploring opportunities for how we can enable it on eBay in an easy way. When you think about collectibles, everything that is really collectible has been known eBay for decades and will continue to be for the next few decades.”

Many large companies are starting to accept crypto as a payment method. One of the most recent is electric vehicle manufacturer, Tesla, who recently announced that customers could purchase vehicles with Bitcoin. Even though there is no mention of when eBay would start accepting crypto as a means of payment, it is inevitable. It would be wise of eBay to take that step ahead of their competitors.

Feature image by Rob from flickr

Andrew is a law student currently studying at UNISA, and Global Crypto's in-house reporter. Andrew discovered blockchain in his final year of school and since developed a keen interest in the subject. He appreciates a good cup of coffee. When he is not too busy with work or studies, he enjoys playing a good round of golf.