eBay, the old school global e-commerce leader, has acquired KnownOrigin, a platform that gives artists a space to create original NFTs. Artists and collectors can create, buy and resell NFTs via blockchain-supported transactions through KnownOrigin. The NFT marketplace was founded in 2018 in Manchester, UK and has facilitated $7.8 million in trade volume since, according to figures by DappRadar. With eBay looking to keep up with the world of now digital collecting, the acquisition of KnownOrigin is a crucial step.
“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,” stated Jamie Lannone, CEO of eBay. “KnownOrigin has built up an impressive, passionate and loyal group of artists and collectors making them a perfect addition to our community of sellers and buyers. We look forward to welcoming these innovators as they join the eBay community.”
In May of 2021, eBay began allowing users to buy and sell NFTs along with upgrades to it’s customer experience. Upgrades were made to eBay’s technology with tools that make it easier to find, sell and buy items.
KnownOrigin co-founder David Moor said, “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. With more than twenty-five years building similar communities of passionate individuals, we are excited by the opportunity to bring a whole new audience on this journey.”