eBay Acquires NFT Marketplace KnownOrigin, Here’s Why

Global e-commerce firm eBay on Wednesday said it has acquired NFT marketplace KnownOrigin for an undisclosed amount. The acquisition will help eBay take an important step in its mission to enter a new era of digital collecting to become the world’s top destination for collectibles.

eBay Foray Deeper into NFT With Acquisition of KnownOrigin

eBay in a press release on June 22 said it has acquired the leading NFT marketplace KnownOrigin to breakthrough into a new era of digital collecting.

Jamie Iannone, CEO of eBay, said:

“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.”

Moreover, he believes KnownOrigin is a leading NFT marketplace that has built an impressive, passionate, and loyal group of artists and collectors. Also, they are a perfect addition to eBay’s community of sellers and buyers.

eBay is currently undergoing tech-led reimagination for upgrading the company’s technology, performance, and customer experience, including tools to make it easier for people to discover, sell or buy anything. In fact, eBay’s CEO hinted at accepting crypto payments as the platform already accepted buying and selling of NFTs in May 2021.

Commenting on the success of KnownOrigin and the acquisition, David Moore, co-founder, KnownOrigin, said:

“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.”

He also thinks the partnership will help attract new NFT creators and collectors.

KnownOrigin’s Success Amid NFT Hype

KnownOrigin has established itself as one of the successful NFT marketplaces in attracting top artists and collectors. It has also partnered with leading companies such as Adidas, Netflix, and Adobe.

In February this year, KnownOrigin raised $4 million in its Series A funding round. The investment was co-led by venture capital firms GBV and Sanctor Capital, in participation from Cultur3 Capital, D1 Ventures, MetaCartel Ventures DAO, LD Capital, Pluto Digital and Future Arts, Colborn, and Yin Cao.

Varinder is a Technical Writer and Editor, Technology Enthusiast, and Analytical Thinker. Fascinated by Disruptive Technologies, he has shared his knowledge about Blockchain, Cryptocurrencies, Artificial Intelligence, and the Internet of Things. He has been associated with the blockchain and cryptocurrency industry for a substantial period and is currently covering all the latest updates and developments in the crypto industry.

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