Last week, Instagram's entry into the NFT space made waves throughout the NFT community. However, it's far from the first Web2 staple transitioning to Web3. About a year ago, e-commerce giant eBay announced listing NFTs for sale and has now launched its own NFT collection.
Despite the declining interest in NFTs, the e-commerce giant is looking to get some skin in the NFT game. Furthermore, it has partnered with green NFT platform OneOf to launch its "Genesis" NFT collection.
Moreover, it features animated 3D interpretations of iconic athletes taken from the cover of Sports Illustrated over the years. This matches eBay's long history as a go-to place for sports memorabilia collectors. Also, the success of sports memorabilia collectibles is evident through NBA Top Shot's entry into the NFT space.
First up in the collaborative series will feature hockey's undisputed GOAT, Wayne Gretzky, performing his signature moves on the ice. Further, the first collection is coming in tiers, where the most common NFTs fall into the green and rarest ones in the diamond tier.
The NFTs start at a pocket-friendly $10 at the green tier, consisting of 299 editions of Gretzky-themed animations or 3D renders. Currently, there has been no announcement regarding the prices of the rarest Diamond tier collectibles. In fact, the Diamond tier will consist of only 15 extremely rare editions.
"Forty years ago, I was grateful to be on the cover of Sports Illustrated, it was a monumental moment in my life. I'm honored to bring this collectible experience to my hockey fans who have followed my career for decades," the Canadian hockey legend Gretzky shared.
During the peak of the 90s dot com bubble era, eBay boarded millions of online users into the world of online action. Similarly, eBay is trying to bring NFTs into the mainstream with its latest project, as it did with online auctions.
Moreover, using a widely beloved sports icon like Gretzky as their NFT debut is significant in attracting more people to Web3. OneOf CEO Lin Dai stressed the need for making NFTs more accessible. "You don't have to be a crypto expert to buy, sell, and collect NFTs," he stated in a press release.
In fact, if the campaign succeeds, Dai hopes it will eventually empower OneOf and eBay to bring "transformative Web3 technology to the next 100M non-crypto-native mass consumers."
However, only creating an easy-to-market and sell project is not enough to achieve this goal. In fact, both OneOf and eBay would need to eliminate the end-users "technical friction." Thus, following the Genesis collection launch, eBay plans to launch the eBay vault soon. It is a dedicated hassle-free digital marketplace for trading cards.
OneOf's involvement in this project is crucial as this digital music, and sports collectible marketplace runs on the Tezos blockchain. By using this proof-of-stake blockchain, OneOf claims two million times more energy-efficient transactions than that on Ethereum. Furthermore, the efficiency of Tezos blockchain allows OneOf to charge no blockchain gas fees altogether.