// eBay has bought the non-fungible token marketplace KnownOrigin
// The online giant said it is “an important step in eBay’s tech-led reimagination”
eBay has acquired the non-fungible token (NFT) marketplace KnownOrigin, furthering the online giant‘s push into the world of blockchain technology and digital collectibles.
Both companies said the deal had been signed and formally closed on Wednesday, but didn’t disclose further details on the transaction, including a purchase price.
Founded in the UK in 2018, KnownOrigin allows users to create, buy and resell NFTs through blockchain-supported transactions.
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eBay first began allowing the buying and selling of NFTs in May 2021 at a time when public interest in the digital tokens saw an increase in their prices and last month, it Ebay launched its first collection of NFTs through a partnership with OneOf, a green NFT platform.
eBay chief executive Jamie Iannone said: “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,”
“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’s co-founder David Moore said: “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.”