Mariella Moon

eBay buys art market NFT KnownOrigin

eBay has really fully embraced non-fungible tokens: the e-commerce company has acquired KnownOrigin, an established marketplace for digital art NFTs. As CoinDesk notes, eBay didn’t reveal how much it paid for the marketplace, but it said in its announcement that the purchase is a “significant step in [its] technology-driven reimagining. “KnownOrigin has been around since 2018 and offers artists a platform they can use to create and sell their art as NFTs in exchange for cryptocurrency payments. Based on information from DappRadar, which tracks data on decentralized applications, KnownOrigin has facilitated $7.8 million in NFT transactions since its inception.

Jamie Iannone, CEO of eBay, said in a statement:

“eBay is the first stop for people around the world looking for that perfect, hard to find or unique addition to their collection and with this acquisition we will continue to be a leading site as our community adds more and more collectibles. digital.”

eBay made its first foray into NFTs as part of its “technology-driven reimagining” last year. It authorized the sale of NFT on its platform in May 2021 for sellers meeting the company’s standards. At the time he said Reuters that it will add more features “that bring blockchain-based collectibles” to its platform. Last May, the company launched its own NFT Collection, releasing 13 limited-edition digital collectibles that feature 3D animated renderings of hockey legend Wayne Gretzky. In fact, we can expect the company to release more NFT collections throughout the year. eBay and OneOf, its Web3 partner for Gretzky’s downfall, said they plan to release more NFTs in the coming months featuring more athletes and updated versions of iconic Sports Illustrated blankets.

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