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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

How Bitcoin And NFTs Could Be Integrated To e-Bay’s Platform

Reynaldo Marquez
Reynaldo Marquez
1 year ago
2 mins read
Bitcoin BTC BTCUSD NFTs

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In an interview for CNBC’s Squawk Box, eBay’s CEO Jamie Iannone talked about the possibility of integrating Bitcoin and crypto payments into their platform. BTC and other digital assets have seen an unprecedented wave of adoption from institutions, companies, and payment platforms during the last year and the popular e-commerce website seems to want in into the growing trend.

With over 187 million customers, e-Bay is looking to explore new payment mechanisms to give their buyers more choice when making purchases. Iannone said that Google Pay and Apple have been integrated and cryptocurrencies payments, such as Bitcoin, might be the next logical step for the platform. Iannone added:

One of the greatest things about our manage payment is that we are expanding the types of payment that we take (…). We will continue to look at other options like cryptocurrency.

In separate statements for Reuters, Iannone said that e-Bay is always looking to adopt the “most relevant forms of payment”. However, he claims they have no immediate plans to integrate crypto payments, a project which has been contemplated for at least 6 years. Iannone reiterated that the company will keep a “close eye” on this option.

Bitcoin trades at $57,842 with sideways movement in the lower timeframes. In the weekly chart, the cryptocurrency has seen a significant recovery from last week’s crash with an 18.1% profit. In contrast, the 30-day chart registers a 2.1% loss.

Bitcoin BTC BTCUSD
BTC moving sideways in the daily chart. Source: BTCUSD Tradingview

Bitcoin, NFTs And Their Expansion Into Mainstream Platforms

Ebay’s CEO was more interested in exploring non-fungible tokens (NFTs) to leverage these types of assets. Iannone believes that its platform will be an adequate place to transact with NFTs due to its reputation as the go-to spot to purchase collectibles. He added:

This is the place where sellers come to get scale demands (…). We are looking at it (integrate NFTs) and exploring opportunities for how we can enable it on e-Bay in an easy way. When you think about collectibles, everything that has been collectible has been on e-bay for decades and will continue to be for the next few decades.

The company’s first priority, if they decide to offer NFTs, will be to “take out the friction in the experience” and make it “simpler” for users to transact with NFTs. This integration could be a corporate strategy to pick up more profits. As Reuters highlighted, e-Bay had a “weak second-quarter forecast” during last week.

Data from DappRadar suggests NFTs trade is on the decline, at least over the past month. Main marketplaces, such as OpeanSea and Rarible, recorded $95.12 million (-30.78%) and $33.78 million (-19.99%) respectively in trading volume for this period. The number of active traders on these platforms saw equal losses.

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Reynaldo Marquez
Reynaldo Marquez

Reynaldo Marquez

A literature major, Reynaldo Márquez has been deeply immersed in the crypto industry since 2017. His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide.
In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride.
He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times.
In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson’s ‘Neuromancer.’ The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau’s ‘Civil Disobedience.’
But that’s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term.
In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry.
Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
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