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eBay says OK to NFT sales

The newest category of collectible for sale on eBay does not require shipping.

eBay is now allowing the purchase and sale of non-fungible tokens (NFTs) to be conducted on its platform. NFTs are unique digital assets stored on a blockchain ledger which certifies the owner. There is no way for an NFT to have more than one owner, and only the certified owner can sell it. 

NFTs have experienced a dramatic surge in popularity in recent months, with many celebrities selling certified, one-of-a-kind digital images, videos, audio recordings, and other files to collectors. In the short term, eBay says its NFT inventory will be provided by trusted sellers who meet its standards across other collectible categories like trading cards, music, entertainment, and art.  

In the past year, eBay has been increasing the services it offers buyers and sellers of more traditional, physical collectibles, including luxury watches, trading cards, and sneakers

Following this initial rollout, eBay says it will launch programs, policies and tools that will allow customers to buy and sell NFTs with greater ease and confidence, across a broader range of categories. eBay also plans to add new capabilities to bring blockchain-driven collectibles to its platform.

“Our open platform is a big part of why eBay is so successful, and that won’t change,” Jordan Sweetnam, eBay senior VP and GM, North America, said in a corporate blog post. “NFTs offer greater access to a broader audience of collectors and creators. In the same way digital publishing brought more exposure for writers, digital collectibles bring greater opportunity for artists and creators. We plan to double down on this idea - combining eBay’s global reach with the principle that anyone can find almost anything on our platform. This premise is what makes NFTs on eBay so exciting, and why we want to partner with creators, sellers and brands who share our commitment to maintaining an open marketplace.”

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