eBay Launches an NFT Project

by | May 24, 2022 | NFT

Happy Tuesday, traders. It’s Matt here. 

I just love a good comeback story. In sports, there’s nothing more exciting than seeing a team trail from behind with time running out…only to make an epic run to win the game. 

So far, the S&P did just that. After closing just above bear market territory on Friday, the benchmark index sprang up another 1.86% on Monday.

It cannot be taken down! (Let’s hope not anyway.) And neither can NFTs. NFTs just got a major endorsement from e-tail industry giant eBay, Inc. (NASDAQ: EBAY)

eBay’s taking on a section of the trading industry that’s been hot no matter where the stock market was at. And they’ve got a celebrity partnership on their side…

eBay Struts into the NFT Arena with Wayne Gretzky

When it comes to trading, there’s nothing more iconic than sports cards. Whether it’s football, baseball, or hockey, the sports card industry has been around for a long time – some say since 1865.

And eBay is stepping into the industry in a big way, and taking things to the next level

NBA Top Shot has been on the NFT scene for a while and tends to do well when NFTs are in play, but it’s focused solely on basketball. 

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eBay partnered with Web3 platform OneOf to introduce 13 limited-edition digital collectibles. And hockey legend Wayne Gretzky will help launch the project. 

NFT holders will receive “a 3-D animated rendering of Gretzky making one of his signature moves on the ice.”

Take that, 2-D trading cards! Score one for NFTs

eBay and OneOf will continue their partnership throughout the end of 2022, dropping additional NFTs that feature iconic athletes who’ve been on Sports Illustrated covers. 

It looks like it could be faster and more efficient than waiting for NFL draft pick trading cards. And for the energy-conscious, the OneOf platform claims to use green blockchain technology.

To top things off, the NFTs will be priced “for the everyday fan,” starting at just $10. But what could it be worth 10 years from now? 

Conclusion

When it comes to getting an edge in the markets, it’s smart to start with a product that has staying power. eBay knows how long trading cards have been a part of the collectibles market, and they want to capitalize on the demand that’s already there through their new approach. 

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