eBay is looking at cryptocurrency payment solutions and NFT auctions.

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eBay CEO Jamie Iannone stated that the company would be “exploring opportunities” to allow nonfungible tokens.

eBay, the world’s largest online auction, will pursue crypto payment solutions for its users, as well as look at ways to add nonfungible tokens on the web.

In an interview with CNBC today, eBay CEO Jamie Iannone said the company will “continue to look” at payment options like crypto. In addition, he said eBay will be “exploring opportunities” to enable nonfungible tokens, or NFTs, on the platform “in an easy way,” comparing the digital offerings to collectibles.

“One of the great things about eBay is that when there is a new trend, it just appears on eBay,” Iannone said. “That’s what we’re seeing in areas like NFT, which we’re looking into to see how we can better explore.”

Sections of NFTs are “already transacting” on the website, according to the CEO, but eBay has not yet streamlined the procedure for buyers and sellers. Some users seem to be able to list Bitcoin (BTC) for sale on the site without eBay explicitly sanctioning such auctions.

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eBay executives have recently hinted that the online retailer would be willing to allow cryptocurrency payments. Three years earlier, a senior vice president at the company said that eBay was “seriously considering” adding BTC as a payment mechanism into its website.

Prior to PayPal’s announcement last year that it will support crypto trading, the company worked with them to promote payments. The company is gradually shifting away from PayPal and into the e-commerce firm Adyen. eBay had about 187 million active users as of the first quarter of 2021.

 

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