Ebay CEO Talks About NFTs And Crypto Shares Intent To Accept Digital Asset Payments

President and CEO of Ebay – the world’s largest e-commerce site after Amazon – Jamie Iannone discussed the possibility of accepting digital currency payments on online platforms and trading NFTs in an interview. last February 27.

Iannone once emphasized that in the nearest future, Ebay is not yet accepting cryptocurrencies. However, he said this March, the company’s plan is to “go deeper” into all areas: payments, advertising and focus on the core category.

Ebay CEO’s share about NFT and Cryptocurrency

Some of the big business giants of the world, namely Amazon and Ebay, are backing crypto and hope to one day make payments using this medium. In the Ebay discussion many years ago, cryptocurrency advocates believed that digital assets and Online Auction would bring a lot of benefits. On May 11, 2021, according to a report from Bitcoin News, Ebay allowed NFT transactions to operate on its auction platform. In an interview with The Street, Ebay CEO also explained how paying with NFT helps to simplify everything impressively.

“We changed our company policy last year so you can trade NFTs on the platform. Basically, you know, Ebay is a place where everyone has something to sell and everyone has something to display” – “And even though we didn’t have any official announcements, people started start NFT trading on the platform. This reminds me of years ago, when people were just starting to sell cars, while we didn’t even have a vehicle business. So we are seeing the same thing.”

See also: BitsCrunch receives $3.6 million in funding for NFT analytics tools

Ebay will probably accept payments in cryptocurrencies

In the rest of the interview, the CEO of Ebay presented his views on digital currency adoption. He emphasized that the company is continuing to evaluate other possible forms of payment on the platform. Iannone also detailed that the company will focus on youth and trends such as the sneaker collection industry. After answering questions about crypto acceptability, Iannone said that Ebay is not yet accepting cryptocurrencies. However, he added:

“On March 10th, we’ll dive deeper into all areas including: payments, advertising, and focus on the core category.”

Ebay continues to be a Giant in the world of online sales with $10.27 billion in revenue recorded in 2020. This is a large revenue figure but still quite small compared to the $386.1 billion that we expect. Amazon achieved the same year.

At the end of the interview, the CEO affirmed that Ebay continues to be an outstanding business where people exchange goods online.

“Ebay will be a place where people trade goods, whether physical or digital. So, over time, you know, we want to make this market sustainable.”