Though eBay didn’t mention how much it acquired KnownOrigin, it said it’s a part of its “tech-led reimagination” plan. eBay has enabled transacting NFTs and even launched its own NFTs a year back. The platform said it will make new additions soon to widen the scope of NFTs in its marketplace.
eBay Foray Deeper Into NFTs Space
Observing the craze of NFTs for the last couple of years, eBay decided to foray into this industry with its own plans. The platform has enabled buying and selling of NFTs since mid-last year, and even launched its own NFTs last month, which are 13 limited-edition digital collectibles featuring Wayne Gretzky, a Canadian ice hockey legend. And with the ongoing partnership with One of, we can expect eBay to launch more such NFTs soon that feature other athletes and the iconic Sports Illustrated covers. All these steps are considered in its plan of “tech-led reimagination“, which eBay started last year. As a part of this, the platform today acquired KnownOrigin, an NFT creation and transacting site that processed over $7.8 million worth of NFTs since its launch in 2018. Though eBay didn’t specify how much it bought KnownOrigin, the platform’s CEO, Jamie Lannone, said in a statement: KnownOrigin allows eligible artists to create NFTs using their tools and sell them to interested parties for cryptocurrencies. Over the last five years, the tech community, especially the cryptocurrency enthusiasts are transacting NFTs for skyrocketing prices and considering them as an art collection.
