- Today, eBay acquired Manchester-based NFT marketplace KnownOrigin officially.
- One month after launching its initial assortment of NFTs in collaboration with web3 platform OneOf, eBay made the deal.
- According to eBay, NFTs are a crucial area for corporate growth.
Today, eBay acquired Manchester-based NFT marketplace KnownOrigin officially. According to eBay, the transaction was finalized and signed on June 22. The deal’s financial details weren’t made public.
With this acquisition, the world’s leading online marketplace for collectibles will enter a new era of digital collecting, which is a significant step in eBay’s tech-led reimagination.
Artists and collectors may now make, purchase, and resell NFTs via blockchain-enabled transactions thanks to KnownOrigin, established in Manchester, UK, in 2018.
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Since its inception, KnownOrigin has experienced rapid growth as a result of the manner it has transformed the production, acquisition, and sale of NFTs. 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. 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.
According to eBay, the growth of the collectibles industry inspired its first partnership in the NFT sector. One month after launching its initial assortment of NFTs in collaboration with web3 platform OneOf, eBay made the deal. The new “Genesis” NFT Collection from the company will include 3D and animated depictions of the legendary athletes who have appeared on Sports Illustrated covers throughout the years.
Technology, performance, and user experience have all been significantly improved due to eBay’s tech-driven reimagination, including capabilities that make it simpler than ever to find, buy, or sell anything.
Despite having a substantial internet presence, eBay will have its job cut out for competing with the many existing crypto-native NFT markets. However, the company’s acquisition of KnownOrigin shows that it is seriously considering NFTs.