eBay Acquires NFT Marketplace KnownOrigin, Here’s Why
World e-commerce agency eBay on Wednesday mentioned it has acquired NFT market KnownOrigin for an undisclosed quantity. The acquisition will assist eBay take an essential step in its mission to enter a brand new period of digital gathering to turn into the world’s prime vacation spot for collectibles.
eBay Foray Deeper into NFT With Acquisition of KnownOrigin
eBay in a press release on June 22 mentioned it has acquired the main NFT market KnownOrigin to breakthrough into a brand new period of digital gathering.
Jamie Iannone, CEO of eBay, mentioned:
“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 group is more and more including digital collectibles.”
Furthermore, he believes KnownOrigin is a number one NFT market that has constructed a formidable, passionate, and dependable group of artists and collectors. Additionally, they’re an ideal addition to eBay’s group of sellers and consumers.
eBay is presently present process tech-led reimagination for upgrading the corporate’s know-how, efficiency, and buyer expertise, together with instruments to make it simpler for folks to find, promote or purchase something. In truth, eBay’s CEO hinted at accepting crypto funds because the platform already accepted shopping for and promoting of NFTs in Might 2021.
Commenting on the success of KnownOrigin and the acquisition, David Moore, co-founder, KnownOrigin, mentioned:
“As curiosity in NFTs continues to develop, we consider now’s the proper time for us to associate with an organization that has the attain and expertise of eBay.”
He additionally thinks the partnership will assist entice new NFT creators and collectors.
KnownOrigin’s Success Amid NFT Hype
KnownOrigin has established itself as one of many profitable NFT marketplaces in attracting prime artists and collectors. It has additionally partnered with main corporations reminiscent of Adidas, Netflix, and Adobe.
In February this yr, KnownOrigin raised $4 million in its Sequence A funding spherical. The funding was co-led by enterprise capital companies GBV and Sanctor Capital, in participation from Cultur3 Capital, D1 Ventures, MetaCartel Ventures DAO, LD Capital, Pluto Digital and Future Arts, Colborn, and Yin Cao.
