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eBay to allow NFT purchases on its platform

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Miguel A. Rodriguez
Miguel A. Rodriguez
12 May 2021
As the NFT started to gain traction in the past months, more companies are trying to facilitate transactions with digital tokens

Through a blog post, Senior Vice President of eBay Jordan Sweetnam announced that the company would add new capabilities that bring blockchain-driven collectables to its platform. However, the sale of non-fungible tokens (NFTs) will be possible only from approved eBay sellers. The announcement came after the company stated that it is open to the possibility of accepting cryptocurrencies as a form of payment in the future.

Before the announcement, purchases on eBay were limited only to physical products or services.

What are NFTs?

The NFTs are verifiable digital assets vouchsafed by blockchain technology, making people spend hundreds of millions of dollars, including for purchasing tokens such as NBA Top Shot and digital art. Moreover, the Golden State Warriors became the first major professional sports team to sell such tokens. The NFTs will be officially licensed digital memorabilia.

Sources: marketwatch.com, reuters.com

This information/research prepared by Miguel A. Rodriguez does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided. 

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Miguel A. Rodriguez
Miguel A. Rodriguez
Financial Writer

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.