eBay Acquires NFT Marketplace KnownOrigin

American multinational e-commerce company, eBay, has acquired NFT marketplace KnownOrigin.

Launched in 2018, KnownOrigin through its technology and platform enables artists to create unique, authentic, digital collectibles, in the form of NFTs. It also allows artists and collectors to buy and resell NFTs via blockchain-support transactions.

For eBay, the acquisition marks a big leap in eBay’s tech-led reimagination, ushering in a new era of digital collecting to the world’s top destination for collectibles. The e-commerce giant’s tech-led reimagination has resulted in significant upgrades to the company’s technology, performance and customer experience, including tools that make it easier than ever to discover, buy or sell anything. As a part of this, eBay began allowing the buying and selling of NFTs in May 2021. 

eBay first gave an hint about its entry into the world of NFTs in March of 2021, while it announced the launch of sales and purchase of NFTs on its platform in May of 2021.

While speaking on the acquisition, Jamie Iannone, CEO of eBay said, “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. 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.”  

“We founded KnownOrigin to empower creators and collectors by giving them the ability to showcase, sell, and collect unique, authenticated digital items,” said David Moore, co-founder, KnownOrigin. “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. This is the start of a new chapter in the KnownOrigin story and we couldn’t choose a better time to focus on building and innovating with the team at eBay. This partnership will help us attract a new wave of NFT creators and collectors.”