Ecommerce Giant eBay Acquires Prominent NFT Marketplace ‘KnownOrigin’

  • Last month, eBay partnered with OneOf to offer its collection of NFTs.
  • eBay’s stock today rose 2.54 percent to $43.32 a share.

KnownOrigin, one of the most popular NFT marketplaces, was bought by eBay on Wednesday, according to a press release. The purchase is part of the company’s “tech-led reimagination,” according to the company’s statement. The deal’s financial details are being kept under wraps.

eBay CEO Jamie Iannone said the company is eager to welcome an enthusiastic community of artists and collectors. KnownOrigin was founded in 2018, making it one of the world’s oldest marketplaces. Following its Series A fundraising round in February, the Manchester-based startup raised £3.5 million.

CEO of eBay Jamie Iannone stated:

“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.”

Last month, eBay partnered with OneOf, an NFT platform, to offer its first collection of NFTs. In May of last year, the business revised its policy to make it easier to sell NFTs. There have been tremendous improvements in the company’s technology and performance, as well as customer experience, thanks mainly to the company’s tech-driven reimagination.

There is no indication that Iannone has adopted crypto payments despite the company’s frequent statements that they are being considered. An early adopter of dotcom in the late 1990s, Amazon has been mulling about whether or not to accept Bitcoin since 2013. eBay’s stock rose 2.54 percent to $43.32 a share. Since the beginning of the year, they have fallen more than 36%.

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