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eBay Makes NFT Debut On Polygon

eBay Makes NFT Debut On Polygon

The e-commerce giant is dropping its first NFT collection on Polygon, featuring Canadian hockey legend Wayne Gretsky. 

OneOf Chooses Polygon Blockchain

The eBay team announced the collection via a press release on Monday. A strategic partnership with the OneOf NFT marketplace contributed to the creation of this collection, which has been dubbed “Genesis.” It will consist of 3D animated digital versions of old Sports Illustrated covers of the former professional hockey player Wayne Gretzky. 

The OneOf marketplace has chosen the Polygon blockchain for this collection instead of its usual Tezos. This move has invited some criticism, to which the OneOf team COO, Joshua James, responded, saying, 

“OneOf believes the future is multi-chain and we made the decision to go with Polygon on the initial Sports Illustrated drop…For continuity across the SI collection, we will be using Polygon for all of their drops. We are still huge Tezos supporters as you can see with all of our other recent drops.”

First Pack Drops On eBay

The first drop of the Genesis collection is live on the eBay platform. It includes 13 limited edition NFT packs in a four-tiered system with varying levels of uniqueness. The prices start at $10 for the lowest green tier and go up with the gold, platinum, and diamond tiers. The most expensive NFT in the drop has been priced at $1,500. The NFTs consist of digital renderings of Gretzky in different poses, with some of the pieces even featuring his digitized signature. 

Commenting on the first drop, eBay’s VP of Collectibles, 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.”

Price Tag In USD

The online retailer had previously shown interest in the blockchain and crypto space when eBay's CEO hinted at a possible digital wallet launch. The Genesis collection will be eBay’s first venture in the non-fungible tokens space. However, none of these pieces can be bought using cryptocurrency, like most other NFTs. On top of that, the sale of these NFTs will also not be conducted on-chain. Instead, interested buyers can purchase these tokens from eBay’s Web2 platform using US dollars only. Once a purchase is made, the buyer can download the NFT from a redemption link that will be sent through chat and email.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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