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eBay’s New Vault Facilitates Digital Transactions of Irreplaceable Physical Objects

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Consider clearing out attic shoe boxes full of baseball cards; eBay may soon find a new home for some of them. The pioneering online marketplace site has built a new 31,000-square-foot facility called the eBay Vault, now open, to hold graded trading cards worth over $750, as well as a variety of physical collectibles in the future.

The launch of eBay Vault follows the launch of its Authenticity Guarantee, which expanded from validating sneakers over $100 to partnering with the Professional Sports Authenticator (PSA) to rate trading cards worth over $2,000. So far, eBay only accepts transaction cards purchased on its website that have been rated by well-known organizations such as the PSA and Sportscard Guaranty Corporation.

Once a transaction card purchase has occurred, the buyer can send the transaction card to the eBay Vault, where it can not only be stored, but resold without shipping the asset. The benefit of this is that it will “allow collectors to simplify and securely store their portfolios,” says Dawn Block, eBay’s vice president of collectibles, and also to buy and sell cards instantly as their value rises and falls in real time.

The experience of buying and selling collectibles without touching them is very close to cryptocurrency. Digital assets such as NFTs are not tied to anything physical, so investors can act on market changes immediately without worrying about the time it takes to “move” the asset.

Now, with eBay’s vault system, you can get the instant satisfaction of owning something physical that you don’t have closet space for. Unlike NFTs, however, you can pay eBay to pick up your actual transaction card and send it to you (no in-person access to the vault), so you can smell the aging cardboard cuts.

eBay started selling NFTs about a year ago. (According to this FAQ, they are not eligible to be stored in a vault, and unlike StockX, eBay does not generate NFT assets on the blockchain to link to stored items.) But the company goes the extra mile to ensure buyers get real physical objects. While the pandemic has energized the collectibles market and overwhelmed rating companies, eBay has pushed Pokémon and Yu-Gi-Oh! to list! Cards are easier, and it now hopes to move away from this newer way of transferring physical assets. way to profit. Hopefully it will succeed before supply saturates, but, according to eBay, trading cards are still hot, with an average of two units being sold per second in the first quarter of 2022. There’s no word yet on whether eBay’s vault will host classic video games, but it could hit the “$3 billion asset” mark in its facility faster by holding graded game cars.Return to Sohu, see more

Editor:

Disclaimer: The opinions of this article only represent the author himself, Sohu is an information publishing platform, and Sohu only provides information storage space services.

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