eBay Might Let You Buy Stuff With Crypto One Day

eBay Might Let You Buy Stuff With Crypto One Day
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eBay is reportedly looking at ways to incorporate NFTs and cryptocurrency into its platform, so it looks like you could sell your old belongings on your way to the moon.

In a statement released on Monday, eBay confirmed that cryptocurrency payment methods is a concept that has been discussed.

“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 Reuters on Monday.

Crypto isn’t exactly a new move for eBay, which has been exploring this area since at least 2019 when it teamed up with Facebook’s Diem (formerly Libra) project.

And even back in 2019, eBay seemed pretty sold on the future of cryptocurrency.

“Blockchain and cryptocurrency will inevitably change the way people connect and pave the way for a redefined commerce,” the company Exploring the Opportunities of Blockchain and Cryptocurrency (ebayinc.com) in 2019.

Additionally, eBay is looking at a “number of ways” to enter the increasingly popular NFT market, asserting that it’s the natural next step for the website – which has long been a marketplace for collectable and rare items.

“We’re exploring opportunities on how we can enable it (NFTs) on eBay in an easy way,” eBay Chief Executive Officer Jamie Lannone told CNBC.

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

NFTs have seen astronomical growth in 2021 so far, and are showing no sign of slowing down, so pivoting to become an NFT transaction platform could be a lucrative business move for eBay.

The move towards NFTs and cryptocurrency comes after eBay stocks took a huge hit last week, falling a whopping 10 per cent in a single day. However, Lannone – who only joined the company last year – was able to calm shareholders with his innovative new ideas.

There’s no word on exactly when or if eBay will begin accepting crypto payments, but considering the likes of Paypal and Tesla have already announced similar moves, it wouldn’t be surprising to see eBay follow suit in the coming months.