In a deal which combines the global reach and reputation of an indisputable e-commerce powerhouse with the extensive know-how of one of the leading platforms within the Web3 space, eBay has acquired UK-based NFT marketplace KnownOrigin. The deal was completed on June 22nd, with further details of the acquisition yet to be disclosed.
eBay’s acquisition of KnownOrigin is an important step in the company’s Web3 segment, which kicked off in May through the launch of a Wayne Gretzky-inspired NFT collection. That being said, the collection was available for purchase through fiat payments, as up until now, the company has only flirted with the idea of implementing crypto payments onto its platform. However, with the KnownOrigin team now by its side, the end of 2022 may see the global marketplace adopting further blockchain technology.
KnownOrigin NFT marketplace was founded in Manchester back in 2018, and has since cemented itself as a go-to, technology-driven platform for artists to create, list, and sell NFTs on. In speaking on the landmark deal, its CEO David Moore had this to say:
“We founded KnownOrigin to empower creators and collectors by giving them the ability to showcase, sell, and collect unique, authenticated digital items. 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”.
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