eBay acquires NFT marketplace KnownOrigin
Popular e-commerce company eBay has acquired a digital art NFTs marketplace KnownOrigin. The company didn’t disclose the amount it paid for the acquisition.
KnownOrigin is a digital ART NFT marketplace founded in 2018. Since the launch, it has facilitated $7.8 million in trade volume. The company claims to be ‘one the world’s first, and largest, NFT Marketplaces.’ Anyone can discover, collect, buy and sell digital ART NFTs on the platform. KnownOrigin also raised $4.3 million in series A co-led by crypto venture capital firms GBV and Sanctor Capital in February this year.
eBay is acquiring the whole company including IP and the team. All three co-founders of KnownOrigin will join eBay.
eBay also started selling NFTs on its platform last year, but with several limitations. With the acquisition of KnownOrigin, eBay will have a proper NFT marketplace for monitored and controlled transactions.
“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,” Jamie Iannone, eBay CEO, said in a statement.
eBay has a presence in the online shopping segment, but the company is working hard to make its name in the NFT segment. This acquisition shows that eBay is really serious about getting into NFTs.