eBay is one of the largest e-commerce platforms in the world. The platform holds the title for being the first in its respective industry to allow NFT trading. CEO Jamie Iannone recently told the media that the website has big plans on working with cryptocurrencies in the future as well. It is worth mentioning that during the last year, the aggregate crypto market cap reached $3 trillion.
With such exponential growth, more businesses started to take an interest in accepting cryptocurrencies as payments. Not only tech companies but several consumer goods and services providers also dabbled into the digital asset market. Iannone revealed new crypto options on the eBay site for March.
Iannone highlighted that last year; the platform decided to make NFTs trading possible on the network. He further explained till date, the revenue generated from the new integration is quite encouraging. He also claimed that this year, the trading volume of NFTs on the platform showed a considerable increase in volume.
Iannone claimed that eBay plans to become a platform where consumers can shop for both physical and digital products. He clarified that even without making any changes on the forum, merchants were already listing and selling their NFT collections. The CEO said that from March 10th, the website would explore further options relating to crypto payments, marketing options, and defining categories.
Crypto-Based Payments are Gaining more Popularity Among Consumers
CEO of eBay told The Street in a recent interview that NFTs were particularly popular among the Gen-Z buyers. He claimed that the e-commerce website was working to make the platform more user-friendly for the aforementioned demographic. eBay is planning to add more payment channels like GooglePay, ApplePay, and AfterPay to expand their market reach.
Meanwhile, a new market survey published by Crypto.com claims that cryptocurrency payments have continued to gain popularity among shoppers. The report claimed that around 60% of Worldpay users showed an interest in paying for their purchases with cryptocurrencies. On the other hand, corporations like Tesla and AMC Entertainment also started to accept crypto payments last year.