Investor Alert

May 12, 2021, 11:22 a.m. EDT

EBay to allow NFT sales on its platform

Watchlist Relevance

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    eBay Inc. (EBAY)
  • X
    Bitcoin USD (BTCUSD)
  • X
    Ethereum USD (ETHUSD)

or Cancel Already have a watchlist? Log In

By Weston Blasi

EBay /zigman2/quotes/204653455/composite EBAY +0.20% users can now buy digital tokens on the e-commerce giant’s platform.

Senior Vice President of eBay Jordan Sweetnam announced in a blog post Tuesday the company will now permit sales of non-fungible tokens, or NFTs, from approved eBay sellers, with plans to expand the pool of sellers in the future.

“In the coming months, eBay will add new capabilities that bring blockchain-driven collectibles to our platform,” Sweetnam said. 

See also: Here’s where Jeff Bezos’s superyacht ranks among the world’s most expensive boats

Prior to today, selling on eBay was limited to physical items, with some exceptions .

All listings on eBay must offer either a physical item or a service for sale ,” according to the site’s policy.

An  NFT is a verifiable digital asset  vouchsafed by blockchain technology. NFTs are not exchangeable like currencies, as each is unique and can’t be replicated.

NFTs use blockchain, the technology ledger backing cryptocurrencies like bitcoin /zigman2/quotes/31322028/realtime BTCUSD +0.44%  and ethereum /zigman2/quotes/108573964/realtime ETHUSD +0.16% , which are databases of linked information to record ownership or transactions of a product.

See also: Golden State Warriors become first pro sports team to release its own NFTs

NFTs have exploded in popularity of late, spearheaded by the support of celebrity business figures such as Mark Cuban and Gary Vaynerchuk .

In the past few months, people have spent hundreds of millions of dollars in totality on these digital assets, such as the  “Disaster Girl” meme, NBA Top Shot and digital art like one from the artist known as  Beeple, which sold for $70 million .

US : U.S.: Nasdaq
$ 66.09
+0.13 +0.20%
Volume: 5.63M
June 16, 2021 4:00p
P/E Ratio
Dividend Yield
Market Cap
$44.94 billion
Rev. per Employee
US : CoinDesk
+170.40 +0.44%
Volume: 0.00
June 16, 2021 9:12p
US : Kraken
+3.84 +0.16%
Volume: 145.11M
June 16, 2021 9:12p

Get news alerts on eBay Inc. — or create your own.
This Story has 0 Comments
Be the first to comment
More News In

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.