Online Trade Platform eBay Might Accept Cryptocurrencies

EBay Inc is open to the possibility of accepting cryptocurrency as a form of payment in the future and is looking at ways to get non-fungible tokens (NFTs) on its platform, the company said on Monday, Reuters reports.

– We are always looking at the most relevant forms of payment and will continue to assess that going forward. We have no immediate plans, but it (cryptocurrency) is something we are keeping an eye on – eBay said in a statement to Reuters.

In an interview with CNBC, Chief Executive Officer Jamie Iannone said that accepting virtual currency was an option the company was looking at.

EBay, which disappointed investors with a weak second-quarter profit forecast last week, said it was looking at a "number of ways" to get into the NFT space, Reuters adds.

A non-fungible token (NFT) cannot be directly exchanged for a traditional currency. Unlike other cryptocurrencies, each NFT is unique.

It represents ownership of a unique product which contains anything digital: drawings, gifs, songs, video games, photographs… Even though it can’t be exchanged directly for traditional currencies, it can be exchanged for other virtual currencies, which are exchanged for euros, dollars, Swiss francs…

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