eBay To Foray Into NFTs, Files Trademark Applications For Wide Range Of Services
eBay may soon let customers trade in NFTs.
NFTs, or non-fungible tokens, are increasingly gaining popularity among investors and companies alike. Several leading brands have already forayed into NFTs, including the likes of Adidas, Coca-Cola, Lamborghini, McDonald’s, Nike, and Ray-Ban. Now it appears that the popular e-commerce platform eBay is also jumping onto the NFT bandwagon. Earlier this month, eBay filed trademark applications with the United States Patent and Trademark Office (USPTO) indicating plans to explore NFT, NFT exchanges, and NFT trading. It may also launch online stores that will sell virtual goods alongside “actual” products.
For those unaware, NFTs are unique entities that are based on blockchains. NFTs can be based on anything from artwork to video clips. If you own an NFT, you can rest assured that no one else in the world will be able to own the exact NFT with the same attributes, unless you decide to trade it.
ALSO SEE: EXPLAINED | NFT: What Is It? Should Creators Consider Selling Their Art As NFTs?
Earlier this week, USPTO-licensed trademark attorney Mike Kondoudis took to Twitter to share a screenshot of eBay’s trademark filings. It showed the platform’s plans to foray into NFT offerings, NFT exchanges, and NFT trading, along with setting up marketplaces for virtual goods. As mentioned, eBay may also launch an online retail store that will sell “actual and virtual goods.”
eBay Inc. is coming to the Metaverse!
— Mike Kondoudis (@KondoudisLaw) June 28, 2022
On June 23, the company filed trademarks indicating plans for:
▶️ NFTs, NFT exchanges, NFT trading
▶️ NFT + Virtual good marketplaces
▶️ Online retail stores with actual and virtual goods#NFT #Metaverse #Web3 #Ebay #NFTCommunity pic.twitter.com/IELMNjaoUJ
It should be noted that a trademark application doesn’t imply that eBay will indeed be going ahead with NFT offerings. The company is yet to confirm anything on that front. So, this report should be considered with a pinch of salt.
Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Cryptocurrency is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Cryptocurrency market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.
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