eBay to Launch a Digital Wallet; it could include NFTs Source: AdobeStock / wolterke

The e-commerce company eBay said it is exploring the possibility of adding "new forms of payment" and that it will launch a digital wallet in the second quarter of the financial year - but has not announced any developments related to cryptocurrencies. Meanwhile, the company also pointed out the upcoming "splitting", which may suggest non-fungible tokens (NFT), but made no mention of it. At an Investor Day event, company chief executive Jamie Iannone said the company will promote new avenues of business, including a digital platform called eBay Vault. Details on his digital wallet appear to be relatively scarce so far. But there are clues to suggest NFTs might play a role. Last year, eBay began allowing users to trade NFTs on its platform. The company built its business empire on providing a market for physical collectibles. As such, a "digital wallet" could be little more than a secure, software-based digital home for credit and debit card information. But it could also be a wallet capable of storing - and displaying - customers' NFTs. Another clue came in a YouTube promotional video titled "Announcing the eBay Vault".

While the video contained no direct mention of crypto or NFT, the company indicated in a slide that "in the future," "splitting" would be added. In the NFT world, fractionation can refer to the digital ownership of a token, whereby the digital rights of a single NFT are broken down into small chunks - fractions. This makes it possible for more than one person to "own" a single NFT. If, for example, Tommy owns half of Rare NFT # 1, it is also possible for Judy and Paul to each own a quarter of the same NFT. "Announcing the eBay Vault" A digital wallet could also refer to a software innovation that allows customers to store their private keys on a platform and pay in crypto on a digital marketplace - such as eBay. But, again, there is nothing in the eBay material to suggest that this is the case. Speculation was intense until the event, with many expecting a big reveal on the crypto payments front. But it looks like the platform isn't ready to take the plunge yet. Instead, Iannone stated: “Over the past two years, we have radically changed the trajectory of our market. We see incredibly exciting growth potential in this market and believe it is our opportunity to win by sharpening our focus and continuing to create value through a technological reimagining of eBay. "

digital wallet