Ina Steiner EcommerceBytes Blog
News and insight focusing on ecommerce.
by Ina Steiner, Editor of EcommerceBytes.com
Tue May 11 2021 14:16:09

eBay to Allow Sale of NFTs by 'Trusted Sellers'

By: Ina Steiner

Sponsored Link

eBay said it will begin allowing the sale of NFTs, or digital collectibles on its marketplace - but it appears it will limit which sellers can participate. "In the short term, NFT inventory will be provided by trusted sellers who meet our high standards, across categories like trading cards, music, entertainment and art," according to today's announcement.

NFT stands for non-fungible token - we wrote about the hype and the skepticism surrounding NFTs in the April 10th article, "What Online Sellers Should Know about NFTs and the Digital Asset Craze."

Unfortunately, eBay didn't link to the page with the new policy or provide specific timelines. We did a quick scan and didn't find it - let us know if you do. Sweetnam did say that in the coming months, eBay would add new capabilities that bring blockchain-driven collectibles to its platform.

While the simple listing of NFTs may not be difficult, paying for them may present challenges. As we had written last month, "NFTs are typically - though not always - bought and sold via cryptocurrency." eBay has yet to announce that buyers can pay for items using cryptocurrency through Managed Payments, so it's unclear how impactful today's announcement is. 

The issue of payment along with a lack of details on how to sell NFTs could mean buyers and sellers may have to wait a while yet before trading digital collectibles.

Here's an excerpt of eBay's announcement by Jordan Sweetnam:

eBay Expanding Into NFTs  
eBay has always been the world's destination for buying and selling the most unique and hard-to-find items - and we'll continue to be the destination for collectors of all kinds, physical or digital. This opportunity unlocks new assets for collecting, new ways for people to fuel their passion, and expands eBay's appeal to a new generation of collectors.

Our open platform is a big part of why eBay is so successful, and that won't change. NFTs offer greater access to a broader audience of collectors and creators. In the same way digital publishing brought more exposure for writers, digital collectibles bring greater opportunity for artists and creators. We plan to double down on this idea - combining eBay's global reach with the principle that anyone can find almost anything on our platform. This premise is what makes NFTs on eBay so exciting, and why we want to partner with creators, sellers and brands who share our commitment to maintaining an open marketplace. 

With this in mind, today we are updating eBay's policy to include the sale of NFTs. In the short term, NFT inventory will be provided by trusted sellers who meet our high standards, across categories like trading cards, music, entertainment and art.  

This is only the beginning. 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.

You can find the full announcement on the eBay corporate blog.



Comments (9) | Leave Comment | Permalink

Readers Comments

Perminate Link for eBay to Allow Sale of NFTs by 'Trusted Sellers'   eBay to Allow Sale of NFTs by 'Trusted Sellers'

This user has validated their user name. by: Rexford

Tue May 11 17:47:50 2021

"will be provided by trusted sellers who meet our high standards, across categories like trading cards, music, entertainment and art"

The Amazonification continues.  Which category will be next?

Who are these "trusted sellers" and what kind of deal have they made with eBay?

Perminate Link for eBay to Allow Sale of NFTs by 'Trusted Sellers'   eBay to Allow Sale of NFTs by 'Trusted Sellers'

by: RL15 This user has validated their user name.

Tue May 11 18:08:09 2021

since ebay does not trust any sellers, just another ebay scheme that fails

Perminate Link for eBay to Allow Sale of NFTs by 'Trusted Sellers'   eBay to Allow Sale of NFTs by 'Trusted Sellers'

This user has validated their user name. by: Bill

Wed May 12 00:18:52 2021

eBay is grasping at straws because they know they are dead.

Perminate Link for eBay to Allow Sale of NFTs by 'Trusted Sellers'   eBay to Allow Sale of NFTs by 'Trusted Sellers'

by: Snapped This user has validated their user name.

Wed May 12 07:45:39 2021

“ In the short term, NFT inventory will be provided by trusted sellers....”

Oblivious to the eBay brain trust that’s leading this desperate leap onto this wagon is the message this announcement (and others similar, previously) conveys to the buyer.

Hello. Welcome to eBay. We will show you what we think you want from sellers we will choose for you because we have too many untrustworthy sellers to show you everything there actually is to choose from.

Message to the seller of course is more clearly intended - independence is untrustworthy.

Perminate Link for eBay to Allow Sale of NFTs by 'Trusted Sellers'   eBay to Allow Sale of NFTs by 'Trusted Sellers'

by: AddyUp This user has validated their user name.

Wed May 12 10:00:59 2021

OK I'll have to ask.

If ebay has "trusted sellers" what does that make the rest of us in their eyes?

Perminate Link for eBay to Allow Sale of NFTs by 'Trusted Sellers'   eBay to Allow Sale of NFTs by 'Trusted Sellers'

This user has validated their user name. by: Covid-20

Wed May 12 11:56:54 2021

Shopping on the eBay platform is akin to fishing in the neighborhood lake known for its high bacteria content and dead fish always floating on the surface.

Perminate Link for eBay to Allow Sale of NFTs by 'Trusted Sellers'   eBay to Allow Sale of NFTs by 'Trusted Sellers'

by: Chicago48 This user has validated their user name.

Thu May 13 06:31:07 2021

"skeptical" is the right word.
Bitcoins and NFTs - if you can't touch it, feel it, smell it, don't buy it.

Perminate Link for eBay to Allow Sale of NFTs by 'Trusted Sellers'   eBay to Allow Sale of NFTs by 'Trusted Sellers'

by: HardWorkingSeller This user has validated their user name.

Thu May 13 08:22:11 2021

I can't see why anyone would spend their hard-earned on a dumb piece of card in a plastic box, let alone a NFT.  But that's just me.

What's interesting is the idea that eBay will have a program of qualifying some sellers as being more trustworthy.

Maybe that could be expanded to allow approved sellers to included links in their listings to PDFs of User Manuals and Instructions etc?  Treating us all as idiots and criminals is getting really old, don't you think?

Perminate Link for eBay to Allow Sale of NFTs by 'Trusted Sellers'   eBay to Allow Sale of NFTs by 'Trusted Sellers'

by: spooky This user has validated their user name.

Thu May 13 10:32:09 2021

we can't list Dr Suess but we can list this insane Ponzi scheme nonsense??? PATHETIC



Login is required to post comments.
To sign in to leave a comment, fill in the form below. If you have not yet signed up for AB Verify, or if you'd like more information, go to the Registration Page
.

Login for AB Verify
Be sure and use your email address and password to log in.

 
Email:
Password:
 
 Forgot Your Password?
 Even though you are signed in with the AuctionBytes Blog, you will have to sign in to the EcommerceBytes blog. But you can sign in with your existing AB Verify info.