You will soon be able to buy and sell NFTs on eBay
Published on Jun 28, 2022 at 5:57 AM (UTC-4)
by Alessandro Renesis
Last updated on Jun 28, 2022 at 6:24 AM (UTC-4)
Edited by
Alessandro Renesis
In the not-too-distant future you’ll be able to buy, sell and trade NFTs on eBay.
That’s right.
The largest auction site in the world is trying to make the impossible possible, by making it easy for everyone to buy Non-Fungible Tokens without losing their mind.
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Everyone is interested in NFTs these days and they take numerous forms.
You’ve got NFTs from global companies, automakers, watch manufacturers, sports clubs, NFTs made from memes, celebrity NFTs.
The list goes on.
The problem is these things are still sort of difficult to understand and manage.
That’s exactly the problem eBay wants to solve by allowing users to buy and sell their NFTs just as easily and quickly as they can sell their used smartphone or pair of sneakers.
In order to do this, eBay bought an existing NFT company outright.
It acquired KnownOrigin, the 12th largest NFT marketplace in the world.
The new feature is still in ‘beta’ phase and that’s why, at the moment, only a few select sellers are allowed to use it, and only if both the buyer and the seller reside in the same country.
Another thing to point out is Ebay’s opted to exclude the ‘auction’ option for now, so you can only sell NFTs at a fixed price.
But eBay being eBay, the process is expected to get easier and easier for users.
In addition to that, eBay is in a unique position to catch two birds with one stone by allowing users who are selling physical goods to integrate the digital NFT in the sale.
For example, car or watch collectors that are selling a rare sportscar or a vintage watch, would be able to include the digital equivalent of the item in the form of an NFT in the sale.
That would be easy to do on eBay and there’s no one other platform in the world that can do that.
At least for now.
Alessandro is an automotive journalist with 10 years of experience covering supercars, automotive history, emerging vehicle technology, and luxury transportation. He wrote the first article published on SupercarBlondie.com when the website launched in 2022 and has since built a reputation for insightful reporting across the automotive and transportation industries. His expertise is grounded in hands-on experience. Alessandro has driven every Tesla model ever produced, from the original Roadster to the Cybertruck, and regularly covers the latest developments in electric vehicles and automotive innovation. His passion for transportation extends beyond cars, he has even flown a Boeing 787 Dreamliner simulator in Addis Ababa, Ethiopia. His reporting spans everything from classic American muscle cars and rare automotive discoveries to luxury yachts, private aircraft, high-end watches, and cutting-edge vehicle technology. Known for his deep knowledge of automotive history and ability to uncover the stories behind iconic vehicles, Alessandro brings readers a blend of historical context, technical expertise, and first-hand experience.
