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eBay teams up with OneOF to release the first-ever “Genesis” NFT collection

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Multinational e-commerce giant eBay unveiled a series of exclusive NFTs in collaboration with OneOf, a green NFT platform for communities across music, sports, and lifestyle.

Dubbed as the “Genesis” NFT Collection, the highlights include 3D and animated interpretations of the iconic athletes featured on Sports Illustrated covers over the years, the first of which features record-breaking Canadian hockey legend, Wayne Gretzky.

As per the press release, the collection comprises thirteen limited-edition digital collectibles such as green, gold, platinum, and diamond tier NFTs. Each NFT whose price starts from $10 features a 3D rendering or animation of Gretzky with an iconic pose on the ice.

Speaking on its first NFT partnership, Dawn Block, VP at eBay stated,

NFTs and blockchain technology are revolutionizing the collectibles space, and are increasingly viewed as an investment opportunity for enthusiasts. Through our partnership with OneOf, eBay is now making coveted NFTs more accessible to a new generation of collectors everywhere. This builds upon our commitment to deliver high-passion, high-value items to the eBay community of buyers and sellers.

Its partner firm OneOf claims to be a “green” NFT platform that uses energy-efficient blockchain technology.

eBay’s 142M users will now have access to high-value collectibles

Through its 142 million buyers and millions of sellers worldwide, the global commerce player can leverage its inventory, maintain an open marketplace, and make high-value collectibles more accessible, with the collaborating partner.

That said, even though the e-commerce firm has a significant presence in the online shopping space, the company will now have its work cut out for it competing with dozens of crypto native NFT marketplaces already out there.

eBay is now among a growing number of entities looking to incorporate NFTs into their platforms. Instagram recently announced that it will start testing NFTs with select creators in the United States.

Additionally, Spotify also revealed last week that it’s testing a new feature that allows artists to promote their NFTs on their profiles.

As for eBay, its obsession with Nft began in February this year when CEO Jamie Iannone told CNBC that it was looking to get into the sector, in an effort to be the go-to marketplace for Gen Z and millennials.

eBay will soon be adding crypto as a payment option

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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.

eBay CEO Affirms Interest In Inducing NFTs To Its System

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eBay seems to be getting on to the crypto bandwagon just like several other mainstream platforms. The online retail giant’s CEO appeared in a recent interview and shed light on the company’s incorporation of crypto.

Even though the price of Bitcoin [BTC] has been stumbling over the last couple of days, the positive sentiment surrounding the king coin did not depreciate. Companies across the globe were still viewing BTC as a great mode of investment. Currently, the crypto industry’s market cap was at $2.25 trillion. These big numbers have undoubtedly enticed an array of platforms.

eBay To Look Into Prospects Of Crypto

Speaking with CNBC, the CEO of eBay, Jamie Iannone pointed out that the platform would continue exploring crypto as a prominent payment option. More than incorporating crypto into their system, the CEO was keen on looking into NFTs.

Nonfungible tokens aka NFTs have undoubtedly garnered immense traction across the world. While helping artists, these assets are also aiding those interested in scoring digital collectibles. Iannone revealed that eBay would start exploring opportunities to induce NFTs into the platform.

He added,

“One of the great things about eBay is when there’s a new trend, it just shows up on eBay. That’s what we’re seeing in areas like NFT, which we’re looking at how can we explore that better.”

Additionally, the CEO pointed out that transactions pertaining to collectibles that are similar to NFTs were already on the platform. However, he wanted to make the entire process much easier for the sellers as well as the buyers.

While the e-commerce platform hasn’t officially enabled Bitcoin as a payment method, several have reportedly started listing the king coin for purchase on the platform.

Every online business witnessed a massive boom during the pandemic. With mankind homebound, almost every platform decided to opt for digitalization. eBay has been in existence for quite a while and has made a notable presence in the market. The addition of crypto onto its platform would be beneficial for the crypto industry and the e-commerce firm.

Bitcoins For Free, Endorses Lolli Following eBay Partnership

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Bitcoin’s performance over the past few days have been nothing but thrilling. After surging up to a high of over $19K, Bitcoin was seen subject to a minor setback at the time of writing. With Bitcoin spiraling up the right way, several crypto platforms were seen expanding their business. Crypto rewards platform, Lolli was seen teaming up with a prominent online marketplace with an eye-catching endorsement.

Bitcoin To Be More Accessible With Lolli’s Latest Partnership

In a recent blog post, Lolli, a crypto platform that gives out rewards in crypto for shopping, revealed that it had partnered with eBay. As per the announcement, the crypto platform would offer its users a 1% return in Bitcoin right after they shop at eBay’s marketplace. While eBay is home to over 1.6 billion products as well as services, users of Lolli would have a wide range to choose from.

eBay hoards over 127 users and has been functioning for over 25 years now. This latest collaboration could pose beneficial for both eBay and the crypto-verse. Even though 2020 would possibly go down as the worst year in history, the holidays bring in some solace. With the holidays right around the corner, Lolli’s latest initiative could aid its users. The Black Friday frenzy has been heeded across the globe. Speaking about the crypto platform’s free Bitcoin endorsement, Matt Senter, the CTO and Co-founder said,

“We’re proud to launch with eBay just in time for Black Friday and Cyber Monday as a treat to our loyal Lolli shoppers. We’ve been working tirelessly to make this integration possible in time for people to earn bitcoin on all their holiday shopping this year. This is the way.”

With the crypto-verse turning out to be highly valuable, several individuals have been steering towards the industry. Lolli aims to make crypto and specifically Bitcoin, more accessible to the world. The CEO of Lolli, Alex Adelman speaking about Lolli’s mission suggested that they intend to boost Bitcoin education while driving its adoption.

Bitcoin Faces Minor Setback

During the time of writing, Bitcoin was seen recording a slump. After getting the community’s hopes up, the king coin was back at $17K. With a 5.02% drop in its price in the last 24-hours, Bitcoin was trading for $17,904.23. Additionally, key indicators declared the presence of bears in the BTC market.

Bitcoin

The signal line was seen reposing below the MACD line which further dictated the formation of bearish crossover. The Awesome Oscillator indicator alerted the community of bear invasion by forming red closing bars.

NYSE Parent Firm ICE Exchange Makes Takeover Offer for eBay

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Intercontinental Exchange, the owner of the New York Stock Exchange (NYSE) reportedly approached the eBay marketplace with a takeover offer. Interestingly, reports note that the deal could vale eBay at more than $30 billion.

It was first reported by the Wall Street Journal, stating that both the companies haven’t had a formal discussion yet and henceforth there’s no deal confirmation in place as for now. Despite several news outlets reporting on the same, ICE itself released an article entitling, “Intercontinental exchange statement on news reports suggesting possible transaction with eBay”.

ICE’s official blog did confirm that they approached eBay with a takeover offer, however, they also claimed that the market place “eBay hasn’t engaged in a meaningful way”. It further continued that they are “not in negotiations regarding the scale of all or part of eBay”.

This being said, eBay seems not interested enough in continuing the talk on the takeover deal. However, it was reported that the ICE’s approached eBay multiple times. CNBC reported that the spokesperson from Atlanta-based ICO declined to comment and added;

“It’s ICE’s policy not to comment on rumors or speculation related to M&A.”

Interestingly enough, ICE is primarily looking to take cover eBay’s marketplace business and not the classified unit which eBay is expecting to sell. This comes into notice as the active shareholder, Starboard Value LP suggested eBay Inc to consider selling classified businesses to make enough progress to improve the value of shareholders. Concerning the same, Reuters added comments shared by Starboard in a letter to eBay’s board.

“To achieve the optimal outcome, we believe Classifieds must be separated, and a more comprehensive and aggressive operating plan must be put in place to drive profitable growth in the core Marketplace business,”

On the other hand, ICE is looking to diversify its trading wings than just traditional finance. Consequently, NYSE and Crypto venture Bakkt are two subsidiaries of ICE.