NFT Platform KnownOrigin Introduces Smart Contracts For Artists

The eBay owned non-fungible tokens (NFT) marketplace KnownOrigin announced the launch of smart contracts for its artists on Thursday, February 16.

From February 24 through the next week, all KnownOrigin authors who have been approved will be able to deploy and mint work using their smart contracts. In addition, the new contracts will enable artists to share profits and collect royalties as co-creators.

The Creator Contract beta release was being tested for the past three weeks, according to KnownOrigin. Almost 250 issues have been printed, and 84 contracts have so far been placed on the platform. Moreover, KnownOrigin revealed their collaboration with Deadfellaz. It said:

“As part of our exciting release, we’ve partnered with @Deadfellaz to release ‘Draw The Undead Season 2’, comprized of official derivative pieces. These are live on KnownOrigin from today and will be able to purchase from the 24th of February.”

Over the past several weeks, the creative community of KnownOrigin has been testing intriguing new creator smart contracts as part of the Beta release. It has so far published 250 NFTs and deployed 84 contracts. In the future, NFT artists will be able to diversify their sources of income and receive royalties as co-creators.

Also, starting on February 24th, confirmed KnownOrigin producers can deploy and mint NFTs on their own contract without having any knowledge of programming languages for deployment.

The acquisition of the “KnownOrigin” for an undiscounted price was officially disclosed by eBay, the world’s largest online retailer, in June 2022.

Non-fungible token listings are now permitted on eBay’s acquired marketplace as of May 2021. While businesses have not yet adopted blockchain technology to speed up transfers or cryptocurrency-based sales on its platform.

NFTs, KnownOrigin, and eBay

In May 2021, eBay allowed direct listing of NFTs on their site. Blockchain technology hasn’t been incorporated by the business, though, so it can’t handle any transfers or cryptocurrency-based sales on its platform.

In order to receive their NFTs outside of the platform, consumers were asked to use email or in-platform messaging during a KnownOrigin airdrop in May 2022.

The “digitally glitched” and flashing picture artworks in this NFT collection are well-known. The collection’s overall sales volume has also topped $2.56 million.

Since May 2021, eBay has allowed NFT listings on its marketplace. Blockchain technology has not yet been incorporated by the business to facilitate transfers or cryptocurrency-based sales on its platform. Users had to use on-platform messaging or email to receive their NFTs during an airdrop in May 2022 if they wanted to get them elsewhere. Currently, eBay does not support postings that request cryptocurrency payments or transfers.

Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing