EBay Acquires NFT Marketplace KnownOrigin

Ebay is acquiring KnownOrigin in entirety, including its team and all the three founders are joining Ebay.

EBay Acquires NFT Marketplace KnownOrigin

The rising interest of eBay, the e- commerce leader with millions of users, cannot be denied as the company acquires NFT marketplace- KnownOrigin, just after one month of releasing digital collectibles collection for sale.

KnownOrigin is one the world’s first, and largest, NFT Marketplaces, built on the Ethereum Blockchain. This Manchester-based company was founded in 2018 by Andy Gray, David Moore and James Morgan and since then is growing exponentially. The KnownOrigin platform gives artists a place to create, buy and sell unique, authentic, digital collectibles, in the form of NFTs.

An NFT is a form of an art which can be presented digitally and recorded on a blockchain and assessed in terms of cryptocurrency. The world now considers it as a value holding investment in collectibles.

The budding art form, the digital art has captured the world in the modern era in the form of non- Fungible Tokens. NFTs are cut out not only for various art forms but also for fields like games, videos, entertainment, fashion and even tweets. The only condition is that one should be able to store his work digitally.

“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 and, with this acquisition, we will remain a leading site as our community is increasingly adding digital collectibles,” said Jamie Iannone, CEO of eBay. “KnownOrigin has built up an impressive, passionate and loyal group of artists and collectors making them a perfect addition to our community of sellers and buyers. We look forward to welcoming these innovators as they join the eBay community”, as quoted by Yahoo Finance.

The terms of the acquisition have not been disclosed yet. It is also yet to be known as to what amount has been decided to be paid by eBay to KnownOrigin for the the acquisition of KnownOrigin. According to the Yahoo report, ebay is acquiring KnownOrigin in entirety, including its team and all the three founders are joining Ebay.

Earlier eBay partnered with Tezos and Polygon to bring out its NFT collection.

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