eBay Releases “Genesis” NFT Collection Amid Market Turbulence

    The e-commerce giant officially jumps on the virtual field with a “Genesis“ NFT collection featuring animations of the athletes.

    As stated in recent news, eBay will collab with OneOf to launch a 3D NFT collection called Genesis about iconic athletes drawn from Sports Illustrated covers over the years.

    eBay first expressed its interest in NFTs earlier this May. However, in fact, CEO Jamie Iannone had revealed plans to integrate this technology months before that.

    The collection includes 13 types of limited NFTs, containing a total number of 299 separated NFTs ranging from Green, Gold, Platinum, and Diamond levels. NFT sales will span during the partnership duration with OneOf. 

    The expected price for the eBay NFTs is between 10 and 1,1500 USD. Buyers can pay with fiat currency to be the first owners of NFT hockey legend Wayne Gretzky. 

    eBay is currently the second biggest e-commerce platform in the US, with more than 140 million users, first spot is Amazon. It is not yet clear whether eBay or OneOf have been granted the rights to reuse Sports Illustrated images. Spokespersons for both sides haven’t responded to this question.

    In Q1 2022 market report from NonFugible, sale volume, trading volume, and the total amount of active addresses in NFT collections have been steadily dropping from their peak in early January. 

    However, both OneOf and eBay remain steadfast in their partnership and believe to attract 100 million new consumers, according to Lin Dai, CEO of OneOf.

    “NFTs and blockchain technology are revolutionizing the collectibles space, and are increasingly viewed as an investment opportunity for enthusiasts,” eBay Vice President of Collectibles, Electronics and Home, Dawn Block said.

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