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Ebay CEO talks NFTs and Crypto. Exec Says Company Continues To 'Evaluate Other Types of Payments.

Jamie Iannone (the president and chief executive of Ebay) spoke out about the possibility of accepting digital currencies on the website's auction site and the sale of non-fungible tokens (NFT) in an interview that was published on February 27

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Ebay CEO talks NFTs and Crypto. Exec Says Company Continues To 'Evaluate Other Types of Payments.

Iannone stated that Ebay currently doesn't accept cryptocurrency, but the company plans to expand its focus on "all of these things", including payments and advertising.

Jamie Iannone, CEO of Ebay: "Without Any Official Announcement People Started Trading NFTs On the Platform."

Ebay and Amazon are two of the largest online businesses. Crypto supporters hope that they will support cryptocurrency payments in future. Ebay has been a topic of discussion for years. Crypto advocates believe that digital assets and the online auction site would be mutually beneficial. Bitcoin.com News reported that Ebay would allow NFT sales on its auction site. Jamie Iannone, Ebay CEO, explained to The Street that NFT sales just happened without any thought.

Iannone stated that Ebay was a place where people can sell something and people can make money by showing up. People started trading NFTs even without anyone revealing anything or doing anything. It brought back memories of years past, when people sold cars without even having a car business. The Ebay executive stated that they are seeing the same thing.

Ebay will look 'Deeper" into alternative payments in March

Interview with Ebay CEO turned to digital currency acceptance. Iannone stated that the company is continuing to "evaluate other payments that we should accept on the platform". Iannone also mentioned that Ebay has a strong focus on youth and trends such as the collectible sneaker market. Iannone, an auction site CEO, stated that Ebay does not accept crypto at the moment.

We'll be looking at all these topics, including advertising, payments, and our focus categories, on March 10.

Ebay is still a major player in online sales, with $10.27 Billion in revenue in 2020. Although the revenue is substantial, it is still much less than the $386.1 million Amazon earned in that same year. Iannone stated that Ebay will remain a major online marketplace for goods exchange. Iannone stated that Ebay would be the place people trade goods online, physical or digital. "So, over time, you'll see that this will be the marketplace for sustainability."


 

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