eBay buys UK-based NFT marketplace KnownOrigin

Global e-commerce giant eBay has launched the non-fungible token (NFT) marketplace KnownOrigin to become a leading provider of digital collectibles.

• News of the acquisition was announced in a press release on Wednesday (June 22, 2022). While details of the purchase remain scarce, the statement noted that both parties have signed and completed the deal.
• Meanwhile, eBay noted that the acquisition of the NFT marketplace was a key step in the company’s entry into the world of digital collectibles as it aims to become a leading global destination for such items.
• According to a statement by eBay CEO Jamie Iannone:

“eBay is the first stop for people around the world looking for the perfect, hard-to-find or unique addition to their collection, and with this acquisition we will remain a leading site as our community continues to add digital collectibles.”

• Founded in 2018, KnownOrigin enables artists and collectors to showcase, sell and collect unique digital items. Co-founder David Moore said it’s the perfect time to partner with a big company like eBay.
• Moore added:

“This is the beginning 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.”

• The latest development comes shortly after eBay partnered with Web 3 company OneOf to launch a hockey-themed NFT collection. As early as 2021, the e-commerce marketplace made it possible to sell NFTs on its platform.