eBay Launches NFTs

The online marketplace, eBay, has launched its first collection of NFTs in partnership with web3 platform OneOf. As part of the initiative, the company's “Genesis” NFT Collection will feature 3D and animated interpretations of the iconic athletes and their Illustrated covers.

"NFTs and blockchain technology are revolutionizing the collectibles space, and are increasingly viewed as an investment opportunity for enthusiasts," Dawn Block, VP Collectibles, Electronics and Home at eBay, said in a statement.

"Through our partnership with OneOf, eBay is now making coveted NFTs more accessible to a new generation of collectors everywhere. This builds upon our commitment to deliver high passion, high-value items to the eBay community of buyers and sellers," Block added.

eBay joins a host of companies that have recently forayed into the NFT segment. Instagram had recently announced that it will start testing NFTs with select creators in the United States. Additionally, Spotify made public its plans in testing a new feature that allows artists to promote their NFTs on their profiles.