Is eBay Ready for the Cryptocurrency and NFT Waves?

eBay might start to allow its customers to use cryptocurrency payments. That is after most big tech businesses started to accept this form of payment. Indeed, you can now use digital coins to pay for various online services.

eBay declared its probability of allowing its customers to use cryptocurrency as a payment option in the coming future. Also, the company stated that it might include NTFs soon in its platform. What do you think about these digital moves by the company? How will online customers benefit from eBay crypto acceptance?

Crypto Gains More Mainstream

Some years ago, most people and financial institutions were skeptical about anything related to cryptocurrencies. However, things have changed now as digital coins gain more mainstream acceptance. That is why eBay’s entry into the market is such a remarkable event.

After PayPal accepted crypto payment last year, Tesla started accepting crypto payments for their vehicle models.

eBay CEO Jamie Iannone announced they have no plans for crypto payments for now, but they might include the option in the coming future. Investors have high expectations of eBay adopting cryptocurrency payment.

The CEO said that they do not have immediate plans, but they are thinking about it. He further stated that eBay had an interest in cryptocurrencies, now planning to keep an eye on the FTFs.

eBay’s Interest in NFTs

The 2nd-quarter profit prediction by eBay last week seems to have dissatisfied investors. However, the price forecast assured the investors of the investment and expansion plans that the quarter had.

The company expressed its consideration of the NFT industry and working all possible ways to ensure success in that particular market.

NFTs (non-fungible token) has been gaining popularity in the market for the last few months. Celebrities and musicians have adopted non-fungible tokens. NFTs are digital files with unique ownership and identity verified on blockchain technology. The term fungible is used in economics to mean products with interchangeable units, such as money. Non-fungible, on the other hand, has unique features, meaning it is non-interchangeable.

Do you think eBay accepting crypto payments is a legit move? You can leave your comment below.