eBay is acquiring NFT marketplace KnownOrigin for an undisclosed amount. The move comes a month after eBay released its debut NFT collection.
eBay, a global commerce leader with millions of sellers and buyers worldwide, and KnownOrigin, an innovative marketplace for non-fungible tokens (NFTs), announced Wednesday that eBay has acquired KnownOrigin. The KnownOrigin technology and platform provide artists with the ability to create unique, authentic digital collectibles in the form of NFTs.
eBay said the acquisition is a major step in the technological rethinking of its platform and ushers in a new era of digital collecting. Founded in 2018 in Manchester, UK, KnownOrigin allows artists and collectors to create, buy, and resell NFTs through blockchain-enabled transactions.
“eBay is the first stop for people across the globe who are searching for that perfect, hard-to-find, or unique addition to their collection and, with this acquisition, we will remain a leading site as our community is increasingly adding digital collectibles,” said Jamie Iannone, CEO of eBay. “KnownOrigin has built up an impressive, passionate and loyal group of artists and collectors making them a perfect addition to our community of sellers and buyers. We look forward to welcoming these innovators as they join the eBay community.”
eBay's technical reinvention has seen significant upgrades to the company's technology, productivity, and customer experience, including tools that make it easier to find, sell, or buy something. As part of this, eBay began allowing the buying and selling of NFTs in May 2021.
“We founded KnownOrigin to empower creators and collectors by giving them the ability to showcase, sell, and collect unique, authenticated digital items,” said David Moore, co-founder, KnownOrigin. “As interest in NFTs continues to grow, we believe now is the perfect time for us to partner with a company that has the reach and experience of eBay. With more than twenty-five years building similar communities of passionate individuals, we are excited by the opportunity to bring a whole new audience on this journey. This is the start of a new chapter in the KnownOrigin story and we couldn't choose a better time to focus on building and innovating with the team at eBay. attract a new wave of NFT creators and collectors.”
© 2022, Eva Fox | Tesmanian. All rights reserved.
We appreciate your readership! Please share your thoughts in the comment section below.