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eBay now allows NFT sales

The NFT craze is not going down soon. Reuters reported that eBay today allowed the sale of non-fungible tokens for digital collectibles like trading cards, images, or video clips on its platform, the first e-commerce company to tap into the recent frenzy around NFTs.

NFTs are non-fungible tokens which means it’s unique and can’t be replaced with something else. For example, a bitcoin is a fungible token — trade one for another bitcoin, and you’ll have exactly the same thing. A one-of-a-kind trading card, however, is non-fungible. If you traded it for a different card, you’d have something completely different.

Artists and celebrities all over the world are getting hooked to NFTs. Earlier this week VaynerMedia founder Gary Vaynerchuk also launched his own NFT project called VeeFriends. And today, we got the news that Floyd Mayweather is also releasing his legacy collection in form of non-fungible tokens (NFTs) on 26th of this month.

“In the coming months, eBay will add new capabilities that bring blockchain-driven collectibles to our platform,” said Jordan Sweetnam, senior vice president and general manager for eBay’s North America market.

The announcement comes after eBay said last week it was open to the possibility of accepting cryptocurrency as a form of payment in the future and was looking at ways to get NFTs on its platform.

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