eBay acquires NFT marketplace KnownOrigin
For an undisclosed sum
E-commerce giant eBay has announced that it’s acquiring Manchester-based NFT marketplace KnownOrigin. The financial terms of the deal were not disclosed.
KnownOrigin, which was founded in 2018 in Manchester by Andy Gray, David Moore, and James Morgan, enables artists and collectors to create, buy and resell NFTs on the Ethereum blockchain. On June 22nd, eBay closed the deal to acquire the entire company, including IP and the team.
According to a press release, this acquisition is an important step in eBay's "tech-led reimagination" to usher in a new era of digital collecting to the world's top destination for collectibles.
“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 eBay CEO Jamie Iannone. “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.”
KnownOrigin co-founder David Moore said the partnership would help the NFT marketplace attract a new wave of NFT creators and collectors.
“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,” he said.
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