EBay NFT: How EBay is Entering the Space With Wayne Gretzky - What You Need to Knowecommerce giant announced its debut NFT collection featuring hockey legend Wayne Gretzky.

ByMadeline Garfinkle

eBayis entering theNFT市场和做它自己的方式。ecommerce giant is partnering with web3 NFT platform OneOf and launching 13 limited edition collectibles — but the company is taking an interesting approach to coveted NFT collectibles: lowering the barrier to entry. While NFT collections likeBored Ape Yacht Clubgained global traction for their exclusivity — and subsequent steep prices — eBay is taking the alternative route, and entering the NFT marketplace to bring unique collectibles to the "everyday fan."

eBay, which has 142 million buyers worldwide, is the second largest ecommerce giant. While a distant second to Amazon, eBay's platform is a thriving hub for enthusiasts who are passionate about buying and selling unique collectibles — which, in retrospect, makes the eBay community a perfect player in the NFT marketplace.

Related:Here's a Beginner's Guide to Crypto, NFTs, and the Metaverse

"NFTs andblockchain technologyare revolutionizing the collectibles space, and are increasingly viewed as an investment opportunity for enthusiasts,"saidDawn Block, vice president of collectibles, electronics and home at eBay. "Through our partnership with OneOf, eBay is now making coveted NFTs more accessible to a new generation of collectors everywhere."

Interestingly, eBay's digital market debut comes at a time when coveted NFT collections have slipped in value. The more exclusive and once sought-after collections like Bored Ape Yacht Club and Crypto Punks saw significantdropsof 28% and 32% this month — which could be the perfect time for eBay to swoop in with its collection that presents a more approachable investment opportunity.

eBay's first NFT collectionfeaturesbeloved Canadian hockey starWayne Gretzky, who played 20 seasons in the NHL and won four Stanley Cups. The digital collectibles come in four tiers — green, gold, platinum and diamond tier — and each contains a one-of-a-kind animation of Gretzky doing a signature move on the ice. The limited editon NFTs start at $10.

Related:How NFTs are Ushering in the True Age of the Digital Creator

“四十年ago, I was grateful to be on the cover of Sports Illustrated, it was a monumental moment in my life," Gretzky said in astatement. "I'm honored to bring this collectible experience to my hockey fans who have followed my career for decades."

The company's partnership with OneOf is also particularly exciting, as it's one of the more eco-conscious NFT platforms. OneOf uses energy efficient blockchain technology and is mindful of just how much energy is used in the cryptocurrency mining process. OneOf uses a "proof of stake" blockchain network, as opposed to a "proof-of-work" network, and claims to use more than2 million times less energythan the latter.

Related:EBay Is the Single Most Influential Company of the Modern Era

Wavy Line
Madeline Garfinkle

Entrepreneur Staff

News Writer

Madeline Garfinkle is a News Writer at Entrepreneur.com. She is a graduate from Syracuse University, and received an MFA from Columbia University.

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