eBay Acquires NFT Marketplace KnownOrigin

Key Takeaways

eBay introduced right now that it has acquired KnownOrigin, a Manchester-based NFT market for visible artwork.
The deal will see EBay make use of KnownOrigin’s co-founders and staff and purchase its mental property.
The corporate has been steadily integrating NFTs since Might 2021; final month, it launched its personal assortment on Polygon.

The net commerce large eBay has acquired KnownOrigin, a market for non-fungible tokens, or NFTs.

eBay Closed KnownOrigin Deal As we speak

In a press launch right now, eBay stated that it has acquired KnownOrigin. It introduced it had closed the deal right now for an unknown quantity.

KnownOrigin was based in April 2018 in Manchester to help visible artwork NFTs. In line with OpenSea, the gathering has 80,600 objects and has moved 8300 ETH ($8.8 million). Gadgets within the assortment are owned by 13,400 people.

EBay CEO Jamie Iannone stated in an announcement that eBay is a “first cease” for e-commerce. He added that right now’s acquisition of KnownOrigin will permit it to “stay a number one website as our neighborhood is more and more including digital collectibles.”

David Moore, co-founder of KnownOrigin cited the “attain and expertise of eBay” as the rationale his firm made the deal. Moore famous that cooperation will permit it to “entice a brand new wave of NFT creators and collectors.”

Experiences from TechCrunch counsel that KnownOrigins’s co-founders—Andy Grey, David Moore, and James Morgan—will all be a part of eBay. The phrases of the deal reportedly embody the corporate’s mental property and its total staff.

Different Websites Are Supporting NFTs

E-commerce websites appear to be a pure match for managing the sale of non-fungible tokens, and a number of other corporations throughout the trade are exploring the chance.

eBay has been steadily integrating blockchain for over a yr. The agency introduced that it might start NFT integration in Might 2021 and introduced a digital pockets in March 2022. It additionally launched its personal sports activities NFT assortment on Polygon final month.

Additionally right now, eBay competitor Shopify revealed that it’s going to introduce NFT-gated storefronts accessible solely to sure token holders. Shopify first introduced NFT help in July 2021.

Alibaba affiliate Alipay started to work with NFTs in 2021. Amazon CEO Andy Jassy hinted at NFT gross sales this April.

Exterior of e-commerce, Uniswap has simply introduced that it’s going to purchase the NFT market Genie.

Disclosure: On the time of writing, the writer of this piece owned BTC, ETH, and different cryptocurrencies.

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