Online auction marketplace eBay is teaming up Lolli, a crypto-centric shopping app, to integrate Bitcoin (BTC) rewards for its 127 million users.
Lolli announced Wednesday that its users can earn 1% back in Bitcoin when they shop on eBay’s marketplace. The initiative is part of a dual strategy to integrate crypto payments with online marketplaces and to raise awareness about digital assets.
Lolli CEO and cofounder Alex Adelman said:
“Today, we are proud to partner and make bitcoin more accessible to those users and continue our mission of furthering bitcoin education and adoption.”
Matt Senter, Lolli’s CTO and cofounder, added:
“We’re proud to launch with eBay just in time for Black Friday and Cyber Monday as a treat to our loyal Lolli shoppers. We’ve been working tirelessly to make this integration possible in time for people to earn bitcoin on all their holiday shopping this year.”
Lolli is a crypto rewards company that lets users earn free Bitcoin or cash when they shop at over 1,000 partner stores. The company’s free Chrome extension sends out browser notifications whenever a user visits a partner retailer’s site. This functionality is now available for eBay users as well.
The eBay marketplace is integrating Lolli just in time for the holiday shopping frenzy. Online sales tied to Black Friday and Cyber Monday are expected to surpass $22 billion this year.
Bitcoin’s price has appreciated by 160% year-to-date, far outpacing traditional financial assets. Earning free Bitcoin may be even more appealing to shoppers this holiday season as the flagship cryptocurrency charts a new path to all-time highs.
The largest cryptocurrency has made headlines recently over what many are calling a supply shortage of BTC. PayPal, which recently integrated cryptocurrency payments, is reportedly buying up nearly 70% of all newly mined Bitcoin.