According to The Street, e-commerce behemoth eBay aims to enter the crypto world. The company has hinted that they will soon be adding an option to accept crypto payments. This decision will entice Gen-Z and millennials to its site.
As per the journal, eBay’s CEO, Jamie Iannone, stated in an interview that Gen-Z and millennials are the firm’s principal focus. The company has been looking into crypto payment possibilities for some time. He also mentioned that while eBay does not presently accept cryptocurrencies on its site, the business may make a crypto-related statement on March 10, a day devoted to its investors.
He also mentioned that eBay was trying to provide more payment alternatives to the platform, even though it was already handling about $85 billion in “platform directly” business. According to Iannone, who spoke to The Street,
“We opened up Google Pay and Apple Pay. We have a partnership with Afterpay in Australia, which is a platform that appeals to Gen-Z, and that is a buy now pay later platform on the marketplace. As a result, we’re still considering what other types of payments we should accept on the site.”
You can also buy and sell NFTs on eBay
Lannone said that at present, they don’t take cryptocurrency. But “On March 10, we’ll go further on all of these things, payments, advertising, and our emphasis areas,” he said.
Last year, according to the CEO, eBay changed its regulations to allow non-fungible tokens (NFTs) to be exchanged on the platform.
While the firm did not make any public pronouncements about the shift, he emphasized that transactions using NFTs were already taking place on the forum, demonstrating the strength of blockchain and crypto.
He concluded his statement that “eBay will be the marketplace for individuals to exchange products, both physical and digital. So, in the long run, we want this to be the sustainable marketplace.”
In a growing world of NFTs and metaverse, big companies are diving to join the bandwagon. Anybody falling short of not understanding the potential of this booming technology will soon be left out. This fear is pushing a lot of companies to explore NFTs and metaverse.
