eBay Announces That It Has Acquired NFT Marketplace, KnownOrigin

eBay announced earlier today that it’s acquiring the NFT marketplace KnownOrigin. The e-commerce company called the acquisition "an important step" in its "tech-led reimagination." The financial terms of the deal were not disclosed.

E-commerce giant eBay is reinforcing its strategy around digital collectibles with the purchase of an NFT marketplace.

In a press release, eBay announced the acquisition of Manchester-based NFT platform KnownOrigin. The companies signed and closed a deal on Wednesday, although details of the deal are still unknown.

KnownOrigin is a platform developed to allow artists and collectors to create, buy, and resell NFTs through Blockchain-compatible transactions.

eBay enabled the buying and selling services of NFTs on its website in May 2021. In its announcement today, the company said the latest move represents "an important step in its tech-led reimagination, ushering in a new era of digital collecting to the world’s top destination for collectibles "

The CEO of eBay, Jamie Iannone, reiterated the company's interest in becoming a leading site as our community is increasingly adding digital collectibles.

 The co-founder of KnownOrigin, David Moore, added along the same lines that the partnership would help the NFT market to attract a new wave of NFT creators and collectors. "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," he said.

eBay introduced last month its first collection of NFTs in partnership with OneOf, a "green" NFT platform specializing on connecting fans and collectors to their favorite musical artists, athletes, and brands.