eBay Inc (NASDAQ:EBAY) said that it will now allow people to sell non-fungible tokens (NFTs) on its online shopping platform, becoming the first e-commerce firm to do so.
On Tuesday, a Reuters report said the company will allow NFTs to be sold for digital collectables such as trading cards, video clips and images, with an NFT inventory to be provided to sellers who meet eBay standards while users will be able to see programs, policies and tools that will allow them to buy and sell NFTs.
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NFTs have exploded in popularity in recent months, with some selling for eye-watering amounts running into millions of dollars. NFTs provide buyers with a digital certification denoting their ownership of the asset and have been created for multiple digital works ranging from tweets to internet memes and online artwork.
eBay’s acceptance of NFTs on its platform is also likely to increase speculation that the platform will also begin accepting cryptocurrency as a payment method, having said last week that it is open to the idea.