eBay acquires NFT marketplace KnownOrigin

The global e-commerce brand, eBay has acquired NFT marketplace, KnownOrigin for an undisclosed figure. This was made known by KnownOrigin a few hours ago:

1/7 The mission was simple: could we build a new platform that would empower creators and give digital artists a chance to earn a living doing what they love. pic.twitter.com/X5zCkJHj1B

— KnownOrigin.io (@KnownOrigin_io) June 22, 2022

eBay has been a major player in the market of consumables where customers can buy anything at cheaper prices online and have it delivered to them. However, last month, they had their first NFT-based partnership by launching NFTs alongside OneOf.

In 2018, Andy Gray, David Moore, and James Morgan started KnownOrigin in Manchester, UK to help digital artists and collectors create, buy, and sell NFTs. Todate, more than $7 million worth of assets have been traded on the platform which has attracted over 13,000 NFT owners with NFTs running at 80,000 plus.

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Blend of Ecommerce and Web3

Jamie Iannone, the CEO of eBay, is excited about the step taken by the e-commerce giant. Being aware of the direction of the global market and having a community that has expanded into collectors of digital collectables, “we will remain a leading site as our community is increasingly adding digital collectables,” she says .

And with the strong base of KnownOrigin consisting of artists and collectors, the emergence is “a perfect addition to our community of sellers and buyers” Jamie added.

For David Moore, the CEO of KnownOrigin, this is the best time to partner with an organization like eBay due to the interest shown in the NFT market. He also believes that the project will bring in more creators as well as collectors.

eBay provide services to millions of users in over 190 markets around the world, and recorded more than $87 billion of gross merchandise volume in 2021. Do you see this as a good partnership?

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