Nasdaq-listed global ecommerce firm, eBay has announced its acquisition of KnownOrigin, a British Non-Fungible Token (NFT) marketplace with innovative features. With the acquisition amount unknown, KnownOrigin will now be able to aid eBay is expanding its reach as a commercial platform where any item can be bought and sold.
“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,” said Jamie Iannone, 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.”
While not recognized as one of the most popular platforms to trade NFTs, KnownOrigin has leveraged its longevity in the space and has charted some very significant growth milestones since its inception.
eBay Advancing its Embrace of Digital Innovations
eBay has long been experimenting with the digital currency ecosystem and its seriousness got heightened over the past few years. While eBay’s first foray into the world of NFTs began as far back as May 2021, the company has integrated support to receive crypto payments for its goods and services.
Back in May, eBay even launched its first NFT collection which it created with four rarity levels, showcasing its interest to explore all the dynamics of the growing ecosystem. The acquisition of KnownOrigin will form a more direct avenue by which the company will bring its millions of customers into the NFT world as mainstream adoption is pursued.
“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,” said David Moore, co-founder, KnownOrigin. “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.”
While KnownOrigin is a UK-based outfit, with eBay, its reach will now be global