The global e-commerce company eBay Inc. announced that it has acquired the Non-Fungible Token (NFT) marketplace called KnownOrigin.
Acquisition KnownOrigin
About a month ago, eBay announced they were launching a series of exclusive NFTs through a partnership with the company OneOf. This is a green NFT platform that focuses on music, sports and lifestyle.
Now they have taken over the NFT marketplace ‘KnownOrigin’. KnownOrigin was founded in 2018 in Manchester, United Kingdom (UK). KnownOrigin’s platform enables artists and collectors to create, buy and resell NFTs through blockchain-enabled transactions.
KnownOrigin reportedly has an NFT trading volume of approximately $7.8 million since its launch. On average, an NFT is sold for $353.51 on the KnownOrigin platform.
eBay one of the first stops
eBay is a hugely popular platform worldwide. It is one of the first stops for many people when looking for the perfect, hard to find or unique addition to their collection. With this acquisition, eBay will continue to be a leading website as their community continues to add more digital collectibles. With this acquisition, the e-commerce website is trying to keep up with the ever-developing (e-commerce) market. A company representative said the following:
KnownOrigin has built 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 has invested heavily in expanding their tools over the past few years. This is one of the ways the platform keeps up with the ever-changing e-commerce market. The technologies, platform performance and customer experiences are better than ever before. As part of their tool expansion campaign, they are also acquiring businesses. Unfortunately, it has not been disclosed how much fascination was with the deal with KnownOrigin.