US-based online e-commerce giant eBay has ventured into the world of non-fungible tokens (NFTs) with the release of its debut collection on the ‘OneOf’ NFT platform. This marks eBay’s first foray into the world of digital collectibles. Its first NFT collection is themed around sports and the price range of its pieces go from $10 (roughly Rs. 775) to $1,500 (roughly Rs. 1.15 lakh). NFTs have been witnessing major attraction from Web3 supporters. Inspired by game characters, avatars, and art among other things, NFTs make for an integral part of the virtual assets category as well as the Web3-backed metaverse sector.
‘Genesis’ is the name of eBay’s NFT collection. It features 3D and animated representation of Canadian hockey legend Wayne Gretzky. NFT versions of other sport players who made it to the covers of the Sports Illustrated magazine over the years, have also been listed for sale.
In a Twitter post, eBay shared a glimpse of its NFT series.
— eBay (@eBay) May 23, 2022
“NFTs and blockchain technology are revolutionising the collectibles space, and are increasingly viewed as an investment opportunity for enthusiasts,” said Dawn Block, VP Collectibles, Electronics, and Home at eBay.
Meanwhile, for ‘OneOf’, this is just another feather in the hat. The platform is popular among celebrities and brands, especially from the music industry.
In December last year, American rapper Pitbull aka Mr. Worldwide entered into a multi-layer deal with OneOf with an undisclosed amount of money in the loop. The singer-rapper is expected to launch his own NFTs later.
In 2021, music industry’s most prestigious awards, The Grammys also partnered with OneOf for a three-year series of NFTs.
“You don’t have to be a crypto expert to buy, sell, and collect NFTs. OneOf and eBay are bringing transformative Web3 technology to the next 100 million non-crypto-native mass consumers,” Lin Dai, the CEO of ‘OneOf’ said in a statement.
The sales of NFTs reached some $25 billion (roughly Rs. 1,84,700 crore) in 2021 as the speculative crypto asset exploded in popularity, data from market tracker DappRadar showed.
Several established platforms from various sectors are chasing NFTs to get more engagement on their platforms.
This month for instance, link aggregator platform LinkTree added NFT features to its platform.
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