eBay Doubles Down On Buying Digital Collectibles, Buys KnownOrigin NFT Marketplace

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Global e-commerce company, eBay Inc, has announced that it has purchased UK non-fungible token (NFT) marketplace KnownOrigin to push digital collectibles further. Financial terms of the transaction were not disclosed.

The acquisition comes a month after eBay announced the launch of a series of exclusive NFTs through a strategic partnership with OneOf, a green NFT platform for the music, sports and lifestyle communities.

KnownOrigin, which was founded in 2018 in Manchester, UK, enables artists and collectors to create, buy and resell NFTs through blockchain-enabled transactions.

According to DappRadar, a company that tracks data on crypto apps, KnownOrigin has facilitated an overall NFT trading volume of $7.8 million since launch at an average price of $353.51.

“eBay is the first stop for people around the world looking for that perfect, hard to find or unique addition to their collection and with this acquisition we will continue to be a leading site as our community adds more and more collectibles. digital,” said Jamie Iannone, CEO of eBay.

“KnownOrigin has built 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 community. eBay.”

eBay said it has seen significant improvements in the company’s technology, performance and customer experience, including tools that make it easier than ever to find, sell or buy anything . 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 and authenticated digital items,” said David Moore, co-founder of KnownOrigin.

“As interest in NFTs continues to grow, we believe the time is right for us to partner with a company that has the reach and experience of eBay. With over twenty-five years of building similar communities of passionate individuals, we are thrilled to have the opportunity to bring a whole new audience on this journey,” Moore said.

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