PayPal exploring NFT market

[Castelione]

PayPal has recently explored NFT market. Do you think this puts them ahead the competition for other FinTech companies who haven't yet? Any insights?

 

[Nomad]

I am not aware of this news. However, I know PayPal has released its own stable coins. Paypal is the most used payment gateway for businesses and individuals around the world and it has been toying with crypto for a long time. It was even envolved with Facebook's crypto project Libra, and later withdraw from the project.

 

[riberet19]

The CEO of PayPal is indeed pro-crypto, and I am not surprised at all this news or that they launched their own stablecoin PYUSD, he already confirmed it last year when he debated at the World Economic Forum about the need and advantages of using cryptocurrencies in the global financial system, but they did not pay much attention at that time, I think PayPal will incorporate NFTs sooner or later to their platform and also a crypto exchange or some other interesting feature.

 

[Monster Masterpiece]

So does it means with PYUSD you could pay PayPal invoice whiteout having debit card or a PayPal account because the concept seems a little be quite interesting for me.

 

[riberet19]

So does it means with PYUSD you could pay PayPal invoice whiteout having debit card or a PayPal account because the concept seems a little be quite interesting for me.

Sure yes, although I haven't used it yet, although I think it's sold on many crypto exchanges as well, but if they want people to adopt their stablecoin, they have to give certain benefits on the platform by using PYUSD and also keep advancing its development and usability.

 

[Grant]

I'm not quite sure why they would be trying to jump into the NFT game, because I thought the whole craze was dying out. I really don't see NFTs sticking around for much longer.

 

[riberet19]

NFTs can have real use, now that all the speculation around this technology is gone, serious projects can be developed around NFTs, I don't think NFTs are going to become extinct, proof of this is that many serious companies are innovating in the NFT world, Paypal is only one of them.