eBay open to crypto payments and NFTs — what you need to know

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Cryptocurrency and NFTs are hot trends right now, and internet giant eBay may exist getting in on the action in the near future.

Speaking to Reuters, eBay confirmed that it was open up to the idea of accepting cryptocurrency payments in the future, and is exploring the concept of NFTs. Though there are no announcements to be made right at present.

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Cryptocurrencies are nix new, but more and more companies have started accepting them in contempo times. Tesla made a big evidence when it started to let customers buy and sell its cars using Bitcoin, while former eBay partner PayPal launched its own crypto wallet last yr.

eBay may not be making whatever announcements, but the retailer told Reuters that it was "always looking at the nigh relevant forms of payment, and will go on to appraise that going forward". With the growing popularity of Bitcoin and other digital currencies, it would be surprising if eBay weren't seriously considering integrating them into its payment options.

It would too be a big step forward for the legitimacy of crypto transactions. Later all, eBay is a big company that's been around well-nigh as long every bit the internet. It'southward non an Amazon or a Walmart, but it'south still a very big deal.

As for NFTs, which are the new blockchain fad, eBay has confirmed it'south looking into calculation sales of not-fungible tokens to its site. For those that don't know, NFTs are a mode to "own" a piece of digital content, and lots of companies accept been trying to jump on the bandwagon and go involved in contempo weeks.

Conspicuously, eBay is able to see an opportunity here, and may well attempt and position itself as 'the place' to purchase and sell NFTs at some point. Any your thoughts on NFTs, it's obvious people are willing to spend large amounts of money on them.

Who knows, maybe next fourth dimension y'all purchase a film of a PS5 for $600, it'll end upwardly beingness an NFT rather than an elaborate scam.

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Tom is the Tom's Guide'south Automotive Editor, which means he can usually be found knee deep in stats the latest and best electric cars, or checking out some sort of driving gadget. It's long way from his days as editor of Gizmodo Britain, when pretty much everything was on the table. He's usually plant trying to clasp another behemothic Lego set up onto the shelf, draining very large cups of coffee, or complaining that Ikea won't let him purchase the stuff he actually needs online.