Sports

eBay Launches Its Own Vaulting Service (and Digital Wallet)

You might not change what you collect in the future, but you may change how you collect. eBay Inc. (NASDAQ: EBAY) is hosting its first investor day under Chief Executive Officer Jamie Iannone and on top of offering its own guidance ahead the online auction giant is outlining how it sees the future of collectibles. eBay is launching the eBay vault service and a digital wallet.

eBay has announced that it sees the trading card market and the market for collectibles continuing to accelerate, and the company also sees itself as the largest trading platform for these — which it also refers to as “investment categories.”

That is where the eBay Vault comes into play. This is described as a 31,000 square foot secure storage facility and digital marketplace for trading cards and collectibles. eBay also said that it plans to expand into luxury goods.

eBay is also introducing its first digital wallet as a part of its new payments platform in a post-PayPal climate. eBay’s first digital wallet will allow customers to use proceeds from their sales to then purchase their next item(s), or they can choose to use the wallet to pay for their selling expenses.

According to eBay’s investor day press release:

The eBay Vault will launch in the U.S. next quarter, and will provide peace of mind and convenience for the company’s millions of buyers and sellers. Once an item is in the eBay Vault, customers know their valuables are secure and “instant sale” becomes the new reality. Ownership can transfer from seller to buyer in a matter of seconds – without the need to re-authenticate, re-package or ship the item anywhere.

Keeping high-value inventory within the eBay ecosystem is significant for both buyers and sellers – and the Vault will make other planned features, like fractionalization and live commerce, possible for a wider audience. eBay is the only marketplace that can deliver this full suite of capabilities at scale, and signals the future of collecting. Within a few years, eBay expects the Vault will hold up to $3 billion in assets, making it one of the largest stores of non-governmental assets in the world.

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