Everybody knows that you should never believe all the advertising you see. That’s sound advice in any circumstances. And yet, there’s some new publicity for eBay that, if it should be correct, could be something of a game-changer for the crypto verse. Should we believe it?
According to that new publicity, which you could see at the Consensus conference in New York, eBay is getting ready to step inside the cryptosphere by supporting “virtual currencies” and “digital collectibles.”
The adverts include text like “Virtual Currency. It’s happening on eBay.” The ads’ images first hit the internet through the @PatronsOfTheMoon Telegram channel, but corroboration from eBay is still lacking. Should the ads be authentic, then the crypto verse could welcome180 million new users in a single go.
The new use case would have everything to do with cryptocurrencies as payment systems, of course, but the digital collectible use case would also be quite relevant for eBay’s bidding marketplace, which is the platform’s bread-and-butter. Cryptokitties made it clear, late in 2017, that there’s room in the cryptosphere for those users who are interested in acquiring digital items that are considered to be unique, even if only within crypto.
That kind of activity fits eBay’s daily activities like a glove. It would be only natural for this kind of auctions to take place on the platform. That would expand both eBay’s scope and crypto’s.
As a hub for collectible items and auctions, eBay is a natural mainstream platform for the future of digital collectibles.
So how will digital assets work on eBay?
That’s an excellent question that remains unanswered so far because eBay is saying nothing yet. There are rumors about Bitcoin adoption through UTRUST, the payment gateway.
The stories probably have something to do with Sanja Kon, who used to be an executive at both eBay and Paypal and now works for UTRUST as VP of Global Partnerships.
So the rumors, while still unconfirmed, make sense because a lot of pieces fall into the right place. At the time of Mrs. Kon’s hiring, UTRUST hailed her with the following words:
“Sanja’s experience at PayPal and eBay makes her the perfect person to help UTRUST drive merchant adoption of our crypto-payments platform… We anticipate that she will be a key driver in elevating UTRUST’s brand in the crypto-commerce space and ultimately the future of online payments industry.”
Crypto payments under “serious” consideration at eBay… still.
eBay’s interest in adopting cryptocurrencies as a means of payment is not exactly new. The company has been keeping an eye on crypto since late 2017. CCN reported, at the time, that the firm was “seriously considering” adopting Bitcoin according to Scott Cutler, vice president of eBay Americas.
“This is a trend that everybody is talking about, but sadly, at eBay, we don’t currently accept bitcoin as a form of payment,” Cutler explained. “We’re seriously considering it as these cryptocurrencies become more of a mainstream” payment instrument, but we’re not quite there yet.”
Crypto adoption is all the rage at the Consensus conference because, apart from eBay’s new ads, other companies are hinting at new cases of adoption. Flexa, for instance, could be partnering with Starbucks.
It would be interesting to figure out how accurate that report turns out to be since Starbucks is already involved with Bakkt, a crypto payments platform, that will include the Seattle coffee giant as well as Microsoft and ICE.
Oh, by the way, 48 days ago the price of $BTC was only $3,939 and today this:
Bitcoin’s price is $8,244.01 BTC/USD exchange rate today. The real-time BTC market cap of $145.91 Billion currently ranks #1 with a chart dominance at 59.73%, daily trading volume of $11.71 Billion and live coin value change of BTC 17.54 in the last 24 hours.
Live Bitcoin (BTC) Price:
1 BTC/USD =$8,244.0143 change ~ 17.54%
Coin Market Cap
24 Hour Volume
24 Hour VWAP
24 Hour Change