EBay Open To The Possibility Of Accepting Cryptocurrencies In The Future

EBay could be possibly accepting crypto currency a s mode of payment on the site sometime in the future and the company is currently seeking out ways and means to get non-fungible tokens (NFTs) on its platform, the company said.

The virtual currencies as a form of payment is now being accepted by a growing number of companies which has enhanced the process of mainstreaming of this virtual asset class that had not been accepted by almost all of the major financial institutions even a few years ago.

Last year, the payments giant PayPal had agreed to allow its customers to buy, sell and hold crypto currencies suing the online wallets of the company while more recently the United States based electric car maker Tesla has already begin to accept bitcoin as a means of payment for its electric cars.

“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 said in a statement to the media.

The company was closely considering the option of accepting virtual currency, chief executive officer of eBay Jamie Iannone said recently in a television interview.

The company was also looking at various options to get into the NFT space, said eBay which reported disappointing results for its first quarter and weak profit forecast for its second quarter last week affecting its investors.  

There has been a sudden interest and popularity in NFTs which is essentially a type of digital asset that exists on a blockchain. Musicians such as the Kings of Leon rock group have embraced NFTs for their latest album and NFT artworks are being sold for millions of dollars.

“We’re exploring opportunities on how we can enable it (NFTs) on eBay in an easy way,” Iannone said during the interview. “Everything that’s collectible has been on eBay for decades and will continue to be for the next few decades.”

(Adapted from ITNews.com)

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