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eBay is toying with the idea of cryptocurrencies and NFTs on the site

eBay is the latest company looking to dive into digital currencies and collectibles.

ebay logo on blurred background
Image: KnowTechie

eBay is looking into the possibility of accepting cryptocurrencies on the platform. Additionally, the company is trying to figure out how to get NFTs onto its website.

According to Reuters, the company is looking at options that will help evolve the platform to help keep up with ever-changing technology.

Cryptocurrencies have seen a massive boom over the last couple of months, and many companies are beginning to accept them as a form of payment. Maybe most notably, Tesla recently allowed for Bitcoin as a form of payment for its EVs.

There are no active plans for allowing cryptocurrencies as payment on eBay, but it is in heavy consideration. A spokesperson for the company had this to say about plans going forward:

“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.”

In addition to looking at cryptocurrencies, the company is trying to figure out a way to bring NFTs to the platform. NFTs have become highly sought after, and eBay seems like the perfect fit for the new form of collectible. People have been buying and selling collectibles on eBay for decades, and it seems fitting for NFTs to make their way to the platform.

Still, there is no confirmation or even formal plan for any of this. The company is still in the early stages of planning for these new functionalities, and there’s no way to know what will come from this. However, allowing cryptocurrencies seems like the next logical step for eBay, as they continue to become a more legitimate way of paying for things.

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Staff writer at KnowTechie. Alex has two years of experience covering all things technology, from video games to electric cars. He's a gamer at heart, with a passion for first-person shooters and expansive RPGs. Shoot him an email at alex@knowtechie.com

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