by Jamie Redman
The president and chief executive officer of Ebay, Jamie Iannone, discussed the possibility of digital currency acceptance on the online auction website and non-fungible token (NFT) sales in a recent interview published on February 27. Iannone stressed that currently, Ebay doesn’t accept cryptocurrencies but in March, the company plans to go “deeper on all of these things, payments, advertising, our focus categories.”
There are a few online business giants such as Amazon and Ebay, that crypto supporters hope someday may support cryptocurrency payments in the future. Ebay has been the topic of conversation for years as crypto advocates believe digital assets and the online auction platform would benefit each other a great deal. On May 11, 2021, Bitcoin.com News reported on Ebay allowing NFT sales on the auction site. During his interview with The Street, Ebay CEO Jamie Iannone explained that the NFT sales simply materialized without much thought.
“We did change our policies last year so that you could trade NFT on the platform and essentially, you know, Ebay is a place where people have something to sell and people have something by show up,” Iannone said. “Even without announcing anything or doing anything, people started trading NFTs on the platform. It reminded me of many years ago when people just started selling cars when we didn’t even have a vehicle business at that point. So we’re seeing the same type of thing,” the Ebay executive said.
The Ebay CEO’s interview then turned to digital currency acceptance and Iannone highlighted that the company continues to “evaluate other forms of payments that we should take on the platform.” Iannone detailed that the company has a focus on the youth and trends like the collectible sneaker industry. After being questioned about crypto acceptance, Iannone remarked that “[Ebay is] not accepting crypto currently.” However, the auction website CEO added:
On March 10, we’re going to go deeper on all of these things, payments, advertising, our focus categories.
Ebay continues to be a giant in the world of online sales with $10.27 billion in revenue recorded in 2020. The revenue is large but much smaller than the $386.1 billion Amazon raked in that year. Iannone concluded that Ebay will continue to be a prominent business where people exchange goods online. “Ebay will be the place where people trade goods, whether they be physical or digital,” Iannone explained. “So over time, you know, we want this to be the marketplace for sustainability.”
What do you think of the Ebay CEO’s recent comments about NFTs and evaluating other forms of payments? Let us know what you think about this subject in the comments section below.
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
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by Jamie Redman