With many multi-national companies such as PayPal and Mastercard adopting cryptocurrency payment methods, eBay is now looking to jump on the bandwagon. However, the company may also bring non-fungible tokens (NFTs) into the mix.
In a statement to Reuters, eBay said it is looking into bringing NFTs to its massive online marketplace and is open to accepting cryptocurrency as a form of payment in the future. However, the company stated there are no immediate plans in place.
- What are NFTs? Non-fungible tokens explained like you’re 5
- What is SafeMoon? The new crypto explained like you're 5
- Tips for safer online shopping: Protect your personal information
According to the report, Ebay's second-quarter profit forecast was below market expectations, which doesn't look good to investors. So, to turn this around, the company is looking at new ways to beat its competition.
"We're exploring opportunities on how we can enable it (NFTs) on eBay in an easy way," said eBay's chief executive officer Jamie Iannone in a CNBC interview. With NFTs selling for millions, including celebrities such as Eminem now selling their own, this would be a step in the right direction for the online marketplace.
eBay is also "keeping an eye on" cryptocurrency as a form of payment, as it's keeping its options open for relevant forms of payment.
While eBay hasn't hinted at when to expect NFTs coming to the platform or when it might introduce cryptocurrency, we may not have to wait too long seeing as companies such as Coinbase recently partnered up with PayPal to easily let users buy crypto.
If eBay follows through with these potential plans and more companies follow suit, it might be worth your while buying cryptocurrencies. If you're wondering how to buy DogeCoin or how to buy SafeMoon, we've got you covered.
Stay in the know with Laptop Mag
Get our in-depth reviews, helpful tips, great deals, and the biggest news stories delivered to your inbox.
Darragh Murphy is fascinated by all things bizarre, which usually leads to assorted coverage varying from washing machines designed for AirPods to the mischievous world of cyberattacks. Whether it's connecting Scar from The Lion King to two-factor authentication or turning his love for gadgets into a fabricated rap battle from 8 Mile, he believes there’s always a quirky spin to be made. With a Master’s degree in Magazine Journalism from The University of Sheffield, along with short stints at Kerrang! and Exposed Magazine, Darragh started his career writing about the tech industry at Time Out Dubai and ShortList Dubai, covering everything from the latest iPhone models and Huawei laptops to massive Esports events in the Middle East. Now, he can be found proudly diving into gaming, gadgets, and letting readers know the joys of docking stations for Laptop Mag.