People will soon be able to sell NFTs on eBay

Just a heads up, if you buy something through our links, we may get a small share of the sale. It’s one of the ways we keep the lights on here. Click here for more.

With the rise in popularity of nonfungible tokens (NFTs), eBay is looking to get its hand in the pot. The online auction site will soon let sellers sell NFTs on its platform, moving the site in the direction of digital collectibles.

The company announced this change in a blog post on its community website. eBay has been a destination for collectors and sellers for a long time, and the company believes that this move into the NFT market will help the site continue to provide that experience to users.

NFTs have become insanely popular to collectors. As the world moves towards a more digital age, so does the world of collectibles. NFTs build on things such as trading cards and sports memorabilia to create next-level collectible items that are created using block-chain encryption so that every single NFT is unique. This system is a dream for collectors and investors alike, creating collectible assets with tangible value.

Executives at eBay are confident that this exploration into NFTs will be a great benefit for the company as a whole, as well as greatly benefitting its customers. Jordan Sweetnam, a senior VP for the company, said this in the blog post mentioned above:

“We’ll continue to be the destination for collectors of all kinds, physical or digital. This opportunity unlocks new assets for collecting, new ways for people to fuel their passion, and expands eBay’s appeal to a new generation of collectors.”

Initially, this feature will be locked to certain sellers that meet a particular rating standard, but the company plans to eventually roll this out for everyone.

This definitely seems like a smart move for eBay, which has been a destination for collectibles for years. As collectibles evolve, it is important that company’s like eBay follow suit in order to stay relevant.

Have any thoughts on this? Let us know down below in the comments or carry the discussion over to our Twitter or Facebook.

Editors’ Recommendations:

• Elon Musk thinks crypto is cool and that Dogecoin could be the future, but don’t be stupid about it
• Venmo will now let you buy and sell crypto like Bitcoin
• Coinbase users can now buy crypto with their PayPal account
• Topps has teamed up with MLB to launch baseball trading card NFTs