eBay have made another move towards expanding into the world of NFTs by acquiring NFT marketplace KnownOrigin.
This acquisition is part of eBay’s expansion in the era of digital collecting to become the world’s top destination for collectibles. KnownOrigin, which was founded in 2018 in Manchester, UK, enables artists and collectors to create, buy and resell NFTs via blockchain-support transactions. It will be interesting to see how eBay uses this acquisition to enhance their NFT capabilities and how the marketplace might cater to eBay’s own NFT buyers and sellers. With the reputation of these digital tokens still suffering, can eBay work to eliminate some of the challenges and boost consumer perception of NFTs?
“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.”– Jamie Iannone, CEO, eBay
eBay’s tech-led reimagination has resulted in significant upgrades to the company’s technology, performance and customer experience, including tools that make it easier than ever to discover, buy or sell anything. As a 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, authenticated digital items, as interest in NFTs continues to grow, we believe now is the perfect time for us to partner with a company that has the reach and experience of eBay. With more than twenty-five years building similar communities of passionate individuals, we are excited by the opportunity to bring a whole new audience on this journey. 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.”– David Moore, co-founder, KnownOrigin