eBay, the world-leading global commerce company, has bought the NFT marketplace, KnownOrigin. In a message via the official eBay website, they confirmed the purchase for an undisclosed fee. The news comes less than a month after eBay launched its first NFT collection in May.
eBay buys NFT marketplace for the future
The sale of the KnownOrigin NFT marketplace to eBay is a crucial step for the huge company. Evidently, eBay is undergoing a web3 revolution to keep ahead of the times. Recently, eBay has modernised the entire company from top to bottom.
In addition, this includes technology upgrades, enhancing the customer experience and new tools to find, buy and sell on the site. Significantly, eBay plans to become one of the world’s top destinations for NFTs.
“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. With this acquisition, we will remain a leading site as our community is increasingly adding digital collectibles,” said Jamie Iannone, CEO of eBay.
KnownOrigin is a popular NFT marketplace created in 2018 that has made some exciting steps in the NFT space. Finally, as eBay takes control of the NFT marketplace, it will be intriguing to see what happens next.
“We launched KnownOrigin to empower creators and collectors by allowing them to showcase, sell, and collect unique authenticated digital items,” said David Moore, the co-founder of KnownOrigin.
eBay has had some success with its NFT collection in partnership with OneOf. Moving forward, they hope to bring NFTs to most of their marketplace users.