On June 22, global e-commerce major eBay announced the acquisition of NFT marketplace KnownOrigin, the sum of it was not disclosed. eBay’s goal of becoming the world’s leading destination for collectibles by ushering in a new era of digital collecting will be one step closer due to this purchase.
In order to usher in a new era of digital collecting, on June 22 eBay announced that it has bought the premier NFT marketplace KnownOrigin.
CEO of eBay, Jamie Iannone noted that “eBay is the first stop for consumers all over the world looking for that ideal, hard-to-find, or one-of-a-kind addition to their collection, and with this purchase, we will continue to be a leading site as our community adds more digital collectibles.”
Furthermore, he considers this an excellent complement to eBay’s seller and buyer community knowing that KnownOrigin is a top NFT marketplace with an amazing, passionate, and devoted community of artists and collectors.
In order to improve the company’s performance, and user experience, including tools to let customers discover, sell, and buy anything, the company is currently re-branding its technology. Noting that the company has permitted buying and selling of NFTs as of May 2021, eBay’s CEO alluded to accepting cryptocurrency payments.
David Moore, the co-founder of KnownOrigin, commented on the company’s growth and acquisition by saying that “they believe now is the ideal moment to engage with a company with the reach and experience of eBay, as interest in NFTs grows.”
He also believes that the alliance would help attract new NFT makers and collectors.
Forming alliances with big corporations such as Adidas, Netflix, and Adobe, KnownOrigin has also had collaborations with major collectors and artists.
KnownOrigin raised $4 million in its Series A funding round in February of this year. GBV and Sanctor Capital co-led the investment, with participation from Cultur3 Capital, D1 Ventures, MetaCartel Ventures DAO, Yin Cao, Colborn, Pluto Digital and Future Arts, and LD Capital.