Global commerce giant eBay has acquired non-fungible token (NFT) marketplace KnownOrigin, its latest foray into the space, according to a company press release Wednesday (June 22). The deal was finalized Tuesday (June 21).
United Kingdom-based KnownOrigin was founded in 2018 and helps artists create, buy and resell digital collectibles in the form of NFTs using blockchain-supported transactions, the release stated.
“This acquisition is an important step in eBay’s tech-led reimagination, ushering in a new era of digital collecting to the world’s top destination for collectibles,” according to the release.
eBay CEO Jamie Iannone said in the release: “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.”
eBay began allowing users to buy and sell 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,” said KnownOrigin Co-Founder David Moore in the release. “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… This partnership will help us attract a new wave of NFT creators and collectors.”
Last month, eBay and NFT producer OneOf announced that they are collaborating on the production and sale of animated versions of “Sports Illustrated” magazine.
“Through this partnership, eBay combines its global reach and unmatched inventory — and OneOf’s eco-conscious Web3 technology — to continue to bring a seamless experience that allows enthusiasts to buy and sell high passion and high value items with confidence,” the companies said in a press release at the time.
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