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eBay Announces Vault for Cards and Collectibles; First Digital Wallet

eBay Announces Vault for Cards and Collectibles; First Digital Wallet

Ben Burrows

Online marketplace eBay used Thursday’s investor day to highlight the company’s long-term growth strategy, and trading cards and collectibles are a major part of the plan.

Already considered the largest marketplace for sports and trading cards, eBay announced the eBay Vault, a 31,000 square-foot storage facility and digital marketplace for trading cards and collectibles.

Expected to launch in the United States next quarter, eBay will join other marketplaces like Goldin Auctions and PWCC as major trading card sellers that allow customers to vault their collections for security as well as faster transactions.

According to eBay, the new Vault will also allow the company to explore trading card and collectibles fractionalization alongside marketplaces like Collectable and Rally Road, though at a larger scale. The company believes the Vault will hold up to $3 billion in assets within the next few years.

Alongside the Vault, eBay announced plans to launch its first Digital Wallet. The marketplace has recently made major changes to its payment system, and the new Digital Wallet will allow buyers to use proceeds from their previous sales to purchase new items.

The addition of the Digital Wallet could also lead to eBay allowing users to pay for purchases using cryptocurrency.

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