Digital& NFT

eBay Legitimizes NFT Craze in Collectibles

If cryptocurrency was not a large enough of a disruption when it comes to investing and collecting, the world of non-fungible tokens has created some new interest and competition alike in the collectibles sector. Make no mistake here — Like it or not, NFTs are absolutely competing for the same dollars that would have otherwise gone into collector cards, comics, stocks, and so on.

Now the mighty eBay, which has become the top auction destination for many collectibles and other items, is also joining in with the notion that collectibles have become an alternate asset class. The corporation also noted that collectibles as an alternative asset class combines passion with investment.

Some investment professionals would probably warn that combining passion is dangerous when it comes to investing. And some investment professionals had a hard enough time adopting to Bitcoin and cryptocurrencies that they might be scratching their head about considering baseball cards, comic books, rare coins and now these “digital thingies” as investments.

eBay is also now updating its policy to include the sale of NFTs. eBay’s press release did confirm that the NFT listings on eBay will be provided by trusted sellers who meet its high standards, across categories like trading cards, music, entertainment and art.

Jordan Sweetnam of eBay called this only the beginning of its efforts. The release said:

This initial rollout will help us learn more about what’s important to our community. Expect to see programs, policies and tools that will allow our audiences to buy and sell NFTs with greater ease and confidence, across a broader range of categories.

In the coming months, eBay will add new capabilities that bring blockchain-driven collectibles to our platform. I’m looking forward to bringing on new creators to share their passions in ways we can’t even imagine yet. Together we will ensure eBay remains the preeminent marketplace for collectibles of all kinds and serves the next generation of collectors.

Here is what you can find if you are searching for “NFT” on the eBay platform. Some of the “items” are listed as Buy It Now for a few dollars and others go on up into the thousands of dollars.

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