eBay has bought KnownOrigin, a marketplace for non-fungible tokens, or NFTs. Today, eBay closed the KnownOrigin transaction.
KnownOrigin was created in Manchester in April 2018 to help visual art non-profits. The collection comprises 80,600 items and has moved 8300 ETH ($8.8 million), according to source. There are 13,400 people who possess items in the collection.
In a statement, eBay CEO Jamie Iannone stated that the company is a “first stop” for e-commerce.
He stated that the acquisition of KnownOrigin today will enable it to “remain a leading site as our community is increasingly adding digital collectibles.”
David Moore, co-founder of KnownOrigin, stated that his company made the deal because of eBay’s “reach and experience.” Cooperation, according to Moore, will allow it to “attract a new wave of NFT creators and collectors.”
According to blog source, Known Origins co-founders Andy Gray, David Moore, and James Morgan will all join eBay. The terms of the agreement are said to include the company’s intellectual property as well as its entire team.
Other Websites Are Endorsing NFTs
E-commerce sites appear to be a natural fit for managing the sale of non-fungible tokens, and several industry firms are investigating the possibility. For over a year, eBay has been progressively incorporating blockchain.
The company said it would start NFT integration in May 2021 and launch a digital wallet in March 2022. Last month, it also debuted its own sports NFT collection on Polygon. Also today, eBay adversary Shopify revealed that it will launch NFT-gated storefronts that will be available to certain token holders. NFT support was first announced by Shopify in July 2021.
To read our blog on “Polygon gets its first NFT collection from eBay,” click here
