eBay Buys Uk-Based NFT Marketplace KnownOrigin

Global e-commerce giant eBay has acquired non-fungible token (NFT) marketplace KnownOrigin, as part of efforts to become a leader in digital collectibles.

• The news of the acquisition was announced in a press release on Wednesday (June 22, 2022). While details of the purchase remain scarce, the statement noted that both parties have signed and closed the deal.
• Meanwhile, eBay noted that the acquisition of the NFT marketplace was an important step in the company’s entrance into the world of digital collectibles, as it aims to become a top global destination for such items.
• According to a statement from eBay CEO Jamie Iannone:

“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.”

• KnownOrigin was founded in 2018 and allows artists and collectors to showcase, sell, and collect unique digital items. Co-founder David Moore said it was the perfect time to partner with a major company like eBay.
• Moore added:

“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. This partnership will help us attract a new wave of NFT creators and collectors.”

• The latest development comes shortly after eBay partnered with Web 3 company OneOf, to launch a hockey-themed NFT collection. Back in 2021, the e-commerce marketplace enabled the sale of NFTs on its platform.