NFT

eBay’s first NFT Collection drop on Polygon

In a recent turn of events, the global eCommerce marketplace eBay has dropped its first NFT collection that features 3D renditions of the Canadian hockey legend Wayne Gretzky on the fast scaling blockchain network Polygon. 

Following the massive craze and adoption of NFTs by global entities such as Meta, Adidas, Prada, Twitter, Visa, etc., eBay has also joined the NFT wave. According to the official press release, the NFT drop is designed with the help of a strategic partnership with OneOf, a multi-chain NFT marketplace. 

Genesis – First eBay NFT Drop

The collection by eBay is dubbed Genesis and will feature animated 3D renditions of iconic athletes that are featured in Sports Illustrated, one of the US’s most popular sports magazines. The first drop of the NFT is dedicated to the Canadian hockey legend Wayne Gretzky. 

“Forty years ago, I was grateful to be on the cover of Sports Illustrated, it was a monumental moment in my life,” said Gretzky in the press release while adding that he is honoured for the feature. 

The first drop includes 13 limited edition NFT packs in a four-tiered system with varying rarity and starts from as low as $10. Moreover, unlike most NFTs, the Genesis NFTs will be sold for US dollars instead of cryptos on eBay itself. Also, the sales are not on-chain but utilize eBay;s Web 3 platform and the assets will be redeemable using a link sent through chat or email. 

eBay’s vice president of collectables, electronics and home, Dawn Block, said, 

“NFTs and blockchain technology are revolutionizing the collectibles space, and are increasingly viewed as an investment opportunity for enthusiasts. Through our partnership with OneOf, eBay is now making coveted NFTs more accessible to a new generation of collectors everywhere. This builds upon our commitment to deliver high passion, high-value items to the eBay community of buyers and sellers.”

eBay has made a smart move by utilizing Polygon’s scalable network with low gas fees and fast transaction speed. This decision will give the user’s more control and freedom over the NFTs.