Renowned online shopping site, eBay, has become the first e-commerce site to jump on the Non-Fungible Token (NFT) bandwagon. The company will now allow for the sale of NFTs on its platform. The news comes less than two weeks after CEO, Jamie Iannone, said that the company was open to exploring the NFT industry.
According to a report by Reuters, eBay sellers who meet specific requirements will be permitted to list NFTs on the platform. In addition, eBay outlined that users could expect to see programmes, policies, and tools, that will simplify the buying process and let users explore NFTs across a broader range of categories.
eBay just announced the ability for sellers to sell NFTs
This is a MAJOR deal for the creator economy and crypto
Many people laugh at the NFT industry, but creators will have the last laugh
— GREG ISENBERG (@gregisenberg) May 11, 2021
The NFT industry has been booming over the past year as the industry continues to welcome increased adoption across many different sectors, with many celebrities, sports stars and musicians dipping their toes into the industry. The most recent sports star being former professional boxer, Floyd ‘Money’ Mayweather, who is set to launch an NFT collection ahead of his fight with YouTuber-turned-boxer Logan Paul.
eBay’s entrance into the NFT industry is yet another indication that the hype around NFTs is not slowing down. The sector continues to boast massive growth.
Feature image by The Focal Project from flickr