eBay announced the acquisition known origin, a Manchester-based NFT marketplace. Financial terms of the purchase were not disclosed, but the deal was signed and closed by both companies on June 22.
known origin was founded in 2018 by Andy Gray, David Moore and James Morgan, who will join eBay. The platform allows artists and collectors to create, buy and sell NFTs.
“eBay is the first stop for people from all over the world looking for the perfect, hard-to-find or one-of-a-kind addition to their collection, and with this acquisition, we will continue to be the top site as our community. adds more and more digital collectibles. This is stated in a statement by eBay CEO Jamie Iannone.
eBay acquires all of KnownOrigin, including intellectual property and workers.
The NFT market is on the rise
“KnownOrigin has built an impressive, passionate and loyal group of artists and collectors, making them the perfect addition to our community of sellers and buyers. We look forward to welcoming these innovators as they join the eBay community,” Iannone added.
The acquisition takes place one month after eBay will launch its first NFT Collection in partnership with the OneOf web3 platform.
Although eBay has a strong position in trading online, the company will have strong competition with dozens of its own NFT marketplaces that exist on the Internet3. But with the acquisition of KnownOrigin, it seems that eBay makes big bets on non-fungible tokens.
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I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.