eBay is Considering Adding Crypto Payments & NFT Sales

The CEO of the multinational e-commerce platform eBay, Jamie Iannone, stated in an interview that the company was exploring its options when it comes to adding support for cryptocurrency payments and NFT integration.

The comments were made in an interview with CNBC’s Squawk Box, a TV show based around the stock market, one week after the eBay stock experienced a drop in value that had shareholders concerned about recent developments.

Lannone referred to the possibility of crypto integration as a valid payment method by telling Reuters:

“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.”

The interview also made clear that eBay is looking at ways to take advantage of the Non-Fungible Token (NFT) boom that has been taking place in the crypto space, which could allow it to capture an audience that hasn’t adopted the technology yet.

Lannone also referred to the importance that NFT integration has for the company by saying:

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

Crypto Payments Could Level the Playing Field for eBay

With EBay’s recent second-quarter forecast failing to meet the market expectations amid an increasingly competitive E-commerce industry, the company has been actively looking for ways to improve its chances of success against companies like Amazon and Shopify.

In recent years, eBay has paid special attention to advertising and a payment business with a simpler e-commerce platform but has failed to take the spot Amazin holds as a favorite among consumers in the United States and Europe.

The inception of other platforms like Canada’s Shopify has also resulted in the growing uncertainty faced by eBay, which used to be the go-to destination for…

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