EBay enters the NFT industry with the help of hockey icon Wayne Gretzky – Reuters

eBay’s headquarters in San Jose, California.

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EBay joins NFTs – with the help of hockey legend Wayne Gretzky.

The company announced Monday that it is releasing 13 limited-edition digital collectibles in partnership with Web3 platform OneOf, each featuring an animated 3D rendering of Gretzky performing one of his signature moves on the ice.

NFTs are a type of digital asset created to track ownership of a virtual object using blockchain technology. These unique items can be works of art or sports cards. Each NFT is unique and cannot be duplicated and accumulates value independently, stored in digital wallets as collectibles.

“Forty years ago, I was grateful to be on the cover of Sports Illustrated, it was a monumental moment in
my life, “Gretzky said in a statement.” I am honored to offer this collector’s experience to my hockey fans who have followed my career for decades. “

Canadian professional hockey player Wayne Gretzky of the Edmonton Oilers in action on the ice for an away game during his 1979-80 rookie season. (Photo by Bruce Bennett Studios via Getty Images Studios / Getty Images)

B Bennett | Bruce Bennett | Getty Images

There are 142 million eBay buyers worldwide. It is the second largest player – albeit far behind Amazon – in e-commerce. Electronics and accessories are the company’s most popular category, attracting a younger consumer population. Earlier this month, eBay bought a $ 263 million stake in toy maker Funko, along with a consortium that includes former Disney boss Bob Iger, sports agent Rich Paul and the Chernin group.

“NFTs and blockchain technology are revolutionizing collectibles and are increasingly seen as an investment opportunity for enthusiasts,” said Dawn Block, vice president of collectibles, electronics and homes on eBay. “Through our partnership with OneOf, eBay is now making coveted NFTs more accessible to a new generation of collectors everywhere.”

OneOf claims to be a “green” NFT platform that uses energy-efficient blockchain technology. The cryptocurrency mining process can use a large amount of energy, in some cases as much energy as entire countries. OneOf claims to use over 2 million times less power than so-called “proof-of-work” blockchain networks. In addition, the company claims that more than 80% of the collections on its platform come from minority designers and women-led projects.

“Our software and eBay’s software will be integrated to provide a super easy NFT shopping experience for the consumer,” OneOf CEO Lin Dai told CNBC last weekend during Gary’s “VeeCon.” Vaynerchuk – A four-day NFT and Web3 conference held in Minneapolis. “Our goal is to bring the next 100 million [currently] non-crypto users and I think this partnership will help us do that. “

About a third of eBay’s total customer base uses the mobile shopping app each month, making it the third most popular shopping app in the United States after Amazon and Walmart.

During the year, OneOf plans to release additional NFT series in partnership with eBay with some of Sports Illustrated’s most iconic covers. The company says each NFT is “priced for the daily fan” starting at $ 10 each.

NFT collections have experienced a marked decline in value this month. Some of the larger collections, such as the Bored Ape Yacht Club and Crypto Punks, saw their prices fall by 28% and 32%, respectively, according to CREBACO research.

Meanwhile, cryptocurrency – the asset class that drives every NFT purchase on the blockchain network – has experienced a downturn. The price of ethereum recently fell by 60% from its highest level in 2021, while bitcoin hit its lowest level since December 2020 last week to below $ 26,000.

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