Jamie Iannone (the president and chief executive of Ebay) spoke out about the potential acceptance of digital currencies on its online auction site and the sale of non-fungible tokens (NFT), in an interview that was published February 27, 2017. Iannone stressed that currently, Ebay doesn’t accept cryptocurrencies but in March, the company plans to go “deeper on all of these things, payments, advertising, our focus categories.”
Ebay CEO Jamie Iannone: ‘Without Any Official Announcement, People Started Trading NFTs on the Platform’
Ebay and Amazon, two online giants in business, are among the crypto advocates who hope that cryptocurrency payments will be possible someday. Ebay has been a hot topic for years because crypto supporters believe that digital assets and the online auction website would mutually benefit. Bitcoin.com News published a report on Ebay’s approval of NFT sales. Jamie Iannone, Ebay’s CEO explained to The Street that NFT sales were a natural result of the auction site.
“We did change our policies last year so that you could trade NFT on the platform and essentially, you know, Ebay is a place where people have something to sell and people have something by show up,” Iannone said. “Even without announcing anything or doing anything, people started trading NFTs on the platform. It reminded me of many years ago when people just started selling cars when we didn’t even have a vehicle business at that point. So we’re seeing the same type of thing,” the Ebay executive said.
Ebay to Look ‘Deeper’ Into Alternative Payments in March
The Ebay CEO’s interview then turned to digital currency acceptance and Iannone highlighted that the company continues to “evaluate other forms of payments that we should take on the platform.” Iannone detailed that the company has a focus on the youth and trends like the collectible sneaker industry. After being questioned about crypto acceptance, Iannone remarked that “[Ebay is] not accepting crypto currently.” However, the auction website CEO added:
On March 10, we’re going to go deeper on all of these things, payments, advertising, our focus categories.
Ebay remains a huge player in the online world of sales, with $10.27Billion in revenue in 2020. This revenue is much lower than Amazon’s $386.1 billion in sales that year. Iannone stated that Ebay would continue to be an important business for people who trade goods online. “Ebay will be the place where people trade goods, whether they be physical or digital,” Iannone explained. “So over time, you know, we want this to be the marketplace for sustainability.”
What do you think of the Ebay CEO’s recent comments about NFTs and evaluating other forms of payments? Comment below and let us know how you feel about the subject.
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