Ebay CEO: We May Accept Crypto Payment This Month

March 02, 2022, 10:00 AM AEST - 5 months ago

E-commerce giant eBay may start accepting cryptocurrencies soon, according to CEO Jamie Iannone, who says the company is considering adding cryptocurrencies as a medium of exchange and “other forms of payments” as soon as next week.

This comes a few months after eBay changed its policies allowing the trading of non-fungible tokens (NFTs), though it has yet to make an official announcement.

So even without announcing anything or doing anything, people started trading NFTs on a 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 [with NFTs].

Jamie Iannone, CEO, eBay

eBay Targeting Younger Audiences

Iannone revealed that eBay is focusing on the younger generation who are actively selling sneakers on the platform. As cryptocurrencies and NFTs appeal to Gen Z, the multinational is considering expanding its list of available form of payments.

We’re appealing to the younger generation, where they’re coming in selling their sneakers, becoming collectors on the platform, and they’re building new marketing capabilities.

Jamie Iannone, CEO, eBay

There’s actually already a way to buy on eBay using crypto through a service called Bitrefill, where you can use your Bitcoin (BTC), Ether (ETH) and more to buy eBay gift cards, and then use them to purchase products from eBay directly.

NFTs and Crypto Now Part of Everyday Life

The rise of NFTs and decentralised finance (DeFi) is now seen everywhere, from retail traders and crypto-savvy people to real estate companies and fashion brands entering the metaverse and creating their own NFT collections.

This week, Crypto News Australia reported that Decentraland will host the first Crypto Fashion Week, gathering the elite of the fashion industry including Paco Rabanne, Dolce & Gabbana, Tommy Hilfiger and many more.

German manufacturer Puma also entered the metaverse last month in the wake of its sports apparel rivals Nike and Adidas, renaming itself Puma.eth on Twitter.

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