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eBay purchases NFT art marketplace KnownOrigin

eBay actually has absolutely embraced non-fungible tokens: The e-commerce firm has acquired KnownOrigin, a longtime market for digital artwork NFTs. As CoinDesk notes, eBay hasn’t disclosed how a lot it paid for {the marketplace}, but it surely stated in its introduced that the acquisition is an “necessary step in [its] tech-led reimagination.” KnownOrigin has been round since 2018 and provides artists a platform they’ll use to create and promote their artwork as NFTs in alternate for cryptocurrency funds. Based mostly on data from DappRadar, which tracks information on decentralized apps, KnownOrigin has facilitated $7.8 million value of NFT transactions since its inception. 

Jamie Iannone, eBay CEO, stated in an announcement:

“eBay is the primary cease for folks throughout the globe who’re looking for that excellent, hard-to-find, or distinctive addition to their assortment and, with this acquisition, we are going to stay a number one website as our neighborhood is more and more including digital collectibles.”

eBay made its first foray into NFTs as a part of its “tech-led reimagination” final yr. It allowed the sale of NFTs on its platform in Could 2021 for sellers that meet the corporate’s requirements. Again then, it advised Reuters that it’ll add extra capabilities “that convey blockchain-driven collectibles” to its platform. This Could, the corporate launched an NFT assortment of its personal, releasing 13 limited-edition digital collectibles that characteristic 3D-animated renders of hockey legend Wayne Gretzky. In truth, we are able to count on the corporate to launch extra NFT collections all year long. eBay and OneOf, its Web3 companion for the Gretzky drop, stated they plan to launch extra NFTs within the coming months that includes different athletes and up to date variations of iconic Sports activities Illustrated covers.

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