EBay Acquires NFT Marketplace, KnownOrigin - SGB Media

Summary

EBay Inc. has acquired KnownOrigin, the non-fungible token (NFT) marketplace.

EBay said the acquisition is an important step in eBay’s tech-led reimagination. KnownOrigin, which was founded in 2018 in Manchester, UK, enables artists and collectors to create, buy and resell NFTs via blockchain-support transactions.

EBay Inc. has acquired KnownOrigin, the non-fungible token (NFT) marketplace.

EBay said the acquisition is an important step in eBay’s tech-led reimagination. KnownOrigin, which was founded in 2018 in Manchester, UK, enables artists and collectors to create, buy and resell NFTs via blockchain-support transactions.

“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.”

EBay began allowing the buying and selling of NFTs in May 2021.

“We founded KnownOrigin to empower creators and collectors by giving them the ability to showcase, sell, and collect unique, authenticated digital items,” said David Moore, co-founder, KnownOrigin. “As interest in NFTs continues to grow, we believe now is the perfect time for us to partner with a company that has the reach and experience of eBay. With more than twenty-five years building similar communities of passionate individuals, we are excited by the opportunity to bring a whole new audience on this journey. This is the start of a new chapter in the KnownOrigin story and we couldn’t choose a better time to focus on building and innovating with the team at eBay. This partnership will help us attract a new wave of NFT creators and collectors.”

Details on the Transaction

EBay is acquiring KnownOrigin and the companies have signed and closed the deal as of June 22, 2022. Further details were not disclosed.