eBay buys NFT art marketplace KnownOrigin

eBay has really fully embraced non-perishable tokens: The e-commerce company has acquired KnownOrigin, a well-established marketplace for digital art NFTs. As CoinDesk Notes, eBay has not disclosed how much it paid for the market, but it said in its announcement that the purchase was a “significant step in [its] technology-led reimagining.” KnownOrigin has been around since 2018, giving 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 apps , KnownOrigin has $7.8 million in NFT transactions since its inception.

eBay CEO Jamie Iannone 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 continues to add more digital collectibles.”

eBay made its first foray into NFTs last year as part of its “technology-led reinvention”. It allowed the sale of NFTs on its platform in May 2021 for merchants who meet the company’s standards. Then it told Reuters that it will add more capabilities “that bring blockchain-powered collectibles” to its platform. In May, the company launched its own NFT collection, featuring 13 limited-edition digital collectibles featuring 3D animated representations of hockey legend Wayne Gretzky. In fact, we can expect the company to launch more NFT collections over the course of the year. eBay and OneOf, the Web3 partner for the Gretzky drop, said they plan to release more NFTs featuring other athletes and updated versions of iconic Illustrated Sports covers.

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