eBay purchases NFT artwork market KnownOrigin

eBay actually has absolutely embraced non-fungible tokens: The e-commerce firm has acquired KnownOrigin, a longtime market for digital artwork NFTs. As CoinDesk notes, eBay hasn’t disclosed how a lot it paid for {the marketplace}, however it mentioned in its introduced that the acquisition is an “vital step in [its] tech-led reimagination.” KnownOrigin has been round since 2018 and offers artists a platform they will use to create and promote their artwork as NFTs in trade for cryptocurrency funds. Based mostly on info from DappRadar, which tracks information on decentralized apps, KnownOrigin has facilitated $7.8 million price of NFT transactions since its inception. 

Jamie Iannone, eBay CEO, mentioned in a press release:

“eBay is the primary cease for folks throughout the globe who’re looking for that excellent, hard-to-find, or distinctive addition to their assortment and, with this acquisition, we’ll stay a number one web site as our neighborhood is more and more including digital collectibles.”

eBay made its first foray into NFTs as a part of its “tech-led reimagination” final yr. It allowed the sale of NFTs on its platform in Might 2021 for sellers that meet the corporate’s requirements. Again then, it instructed Reuters that it’s going to add extra capabilities “that deliver blockchain-driven collectibles” to its platform. This Might, the corporate launched an NFT assortment of its personal, releasing 13 limited-edition digital collectibles that function 3D-animated renders of hockey legend Wayne Gretzky. In truth, we are able to count on the corporate to launch extra NFT collections all year long. eBay and OneOf, its Web3 associate for the Gretzky drop, mentioned they plan to launch extra NFTs within the coming months that includes different athletes and up to date variations of iconic Sports activities Illustrated covers.

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