The iconic online retailer eBay just announced the launch of its very first NFT collection. Although it is not a complete surprise (the e-commerce mega star spoke last year about its intention to explore the NFT space and planned to embrace the new technology), it does mark a significant change for the platform.
To make things more interesting, the collection is in partnership with OneOf and features Canadian hockey star, Wayne Gretzky.
A Bit about eBay
eBay is the world’s second largest e-commerce platform with a market cap of almost $25 billion and more than 142 million buyers around the globe. The company launched in 1995 out of San Jose, California, and quickly became an international poster child for the dot com success story. It is second only to Amazon and boasts a particularly strong electronics department that attracts the younger generation of consumers.
Additionally, eBay is known for selling collectibles and hosting auctions to get the best deals on products. The platform believes it has the perfect audience for NFTs and is excited to see how the technology can revolutionize its offering.
The New Collection
As we mentioned already, the collection features Wayne Gretzky. Widely considered one of the greatest hockey players of all time, the now retired Canadian star remains a much loved and highly respected figure in the sport.
The eBay NFT collection consists of 13 collectible limited edition digital tokens. Each one depicts a 3D rendering of Gretzky on the ice displaying one of many signature moves. Prices begin at $10 and go up based on a rarity tier system: green, gold, platinum, and diamond.
Gretzky spoke out about his excitement to be a part of the collection, after it appeared on the cover of Sports Illustrated 40 years ago. He thanked his loyal fans who have followed his career throughout the years- a career that spanned decades and still holds strong in the hall of fame.
Collectibles in the sporting industry have been successful for a long time: way before NFTs were even possible. Trading cards are a definite inspiration to collections such as this, especially when considering their value. A Wayne Gretzky rookie card, for example, sold for a whopping $3.75 million last year. Additionally, Gretzky became the first ever hockey star to feature on a trading card that sold for more than $1 million back in 2020, so he is no stranger to successful collectibles.
Let’s see if the same success translates to non-fungible tokens!
What We Know About the Launch
eBay’s first drop is available already and is set to continue throughout the year. The idea is to make these collectible tokens available and accessible for the everyday fan, which is why the starting price sits in the budget-friendly realm of ten bucks.
According to eBay spokespeople, this launch is only the first in what hopes to be a multi-series collection featuring various sports stars in the same way Gretzky appears here.
The launch is in partnership with OneOf: a green platform that claims to take a more eco-friendly approach to NFTs and minting. It is predominantly associated with the music industry, with music-based NFTs accounting for 80% of its business, so this is an interesting move. OneOf is also known for working with minority groups and supporting their work.
OneOf and eBay intend to merge their software to create a user-friendly experience for anyone who chooses to get on board with the platform’s crypto move.
As more and more giants of industry jump on board the NFT train and find their own ways to become a part of the conversation, the conversation around non-fungible tokens continues to expand. While some say the best days are past, others believe the market is evolving into something more stable.
When names as iconic as eBay get involved, it is hard to deny that there is still a significant role for NFTs to play in the mainstream eye. The Wayne Gretzky drop is an exciting move for the online giant, and we look forward to tracking its progress.