eBay purchases KnownOrigin UK-based NFT art marketplace

Written By Simon Mwebaze

We all love people and brands that keep their promises.

After entering the world of NFTs last year, eBay promised to add more capabilities “that bring blockchain-driven collectibles” to its platform. They were not kidding.

As on Jun 21, 2022, eBay acquired KnownOrigin at an undisclosed price. KnownOrigin, which was founded in 2018, is an NFT marketplace providing artists a platform to create and sell their art as NFTs in exchange for cryptocurrency payments.

“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 eBay CEO Jamie Iannone. “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.”

KnownOrigin also boasts of being ranked the 12th marketplace on all-time trading volume for Ethereum-backed NFTs. Through this acquisition, it will be able to add value to creators and collectors.

“We founded KnownOrigin to empower creators and collectors by giving them the ability to showcase, sell, and collect unique authenticated digital items,” said Co-founder of KnownOrigin David Moore. “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 acquisition brings eBay closer to its vision of realizing its tech-led reimagination toward a new era of digital collecting. It enables the auction site to monitor and control a proper digital marketplace.

This is not eBay’s first tangle with NFTs. Earlier this year, it collaborated with OneOf, to create a limited collection of NFTs featuring Wayne Gretzky.

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