EBay says open to accepting to cryptocurrencies in future, exploring NFTs

An eBay signal at an workplace constructing in San Jose, California, May 28, 2014. REUTERS/Beck Diefenbach

EBay Inc (EBAY.O) is open to the potential for accepting cryptocurrency as a type of fee in the long run and is taking a look at methods to get non-fungible tokens (NFTs) on its platform, the corporate mentioned on Monday.

A rising variety of corporations have begun to settle for digital currencies as a type of fee, taking an asset class that had been shunned by main monetary establishments a couple of years in the past, a step nearer to changing into mainstream.

Tesla Inc (TSLA.O) is already accepting bitcoin as fee for its electrical automobiles, whereas funds large PayPal (PYPL.O) final yr began permitting prospects to purchase, promote and maintain cryptocurrencies utilizing its on-line wallets. read more

“We are always looking at the most relevant forms of payment and will continue to assess that going forward. We have no immediate plans, but it (cryptocurrency) is something we are keeping an eye on,” eBay mentioned in a press release to Reuters.

In an interview with CNBC, Chief Executive Officer Jamie Iannone mentioned that accepting digital foreign money was an choice the corporate was taking a look at.

EBay, which dissatisfied traders with a weak second-quarter revenue forecast final week, mentioned it was taking a look at a “number of ways” to get into the NFT area. read more

NFTs, a sort of digital asset that exists on a blockchain, have exploded in recognition this yr, with NFT artworks promoting for tens of millions of {dollars} and musicians such because the Kings of Leon rock group embracing them for his or her newest album. read more

“We’re exploring opportunities on how we can enable it (NFTs) on eBay in an easy way,” Iannone mentioned on CNBC.

“Everything that’s collectible has been on eBay for decades and will continue to be for the next few decades.”

(This story refiles to right CEO title in paragraphs 5 and eight to Iannone; Corrects typographical errors in paragraphs 1, 3 and 4.)

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