Monday, December 5

eBay, The E-commerce Giant Releases Its First NFTs Collection.

E-commerce giant eBay announced the launch of its first non-fungible token collection in partnership with hockey legend Wayne Gretzky earlier this Monday.

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The San Jose, California-based company joined forces with “green” NFT platform OneOf to roll out the collection. The collection will feature 13 different works of art devoted to one of the greatest hockey players of all time. Each piece costs up to $1,500.

eBay’s dawn back claims that NFTs are disrupting the collectibles sector.

eBay was released at the top of the dot-com boom in the late 1990s. It remains the second most popular e-commerce platform in the U.S., but it is substantially lagging behind rival Amazon.

Amazon was rumored to pivot to cryptocurrencies in the ending part of 2021, but the company vehemently disapproved of such decisions.

Jamie lannone, CEO of eBay, confirmed last year that the firm was digging into crypto payments.

Too late?

As brought up by Cryptolifedigital, eBay first broadcast that it was going to permit non-fungible tokens sales last May. Back then, the whole sector was thriving due to growing interest.

Non-fungible tokens have not been secured from overwhelming bearishness within the cryptocurrency market.

Crypto Winter has taken a huge toll on NFT sales, which have plummeted by more than 90%.

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As stated by the latest Google Trends data, the search volume for the term “NFT” has plummeted since its peak, which certainly indicates waning interest in the sector.

It remains to be observed whether eBay’s new collection will be able to deduce adequate profit to prove that non-fungible tokens (NFTs) are not a fad.

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