EBay Snaps Up NFT Market KnownOrigin

EBay and KnownOrigin announced in a joint assertion at present that the e-commerce big has acquired the NFT market for an undisclosed sum. 

CEO Jamie Iannone mentioned final yr that his firm was exploring crypto funds and NFTs, which turned accessible on eBay in Might 2021.

The transfer comes amongst numerous NFT market acquisitions. Simply yesterday, Uniswap Labs, the corporate behind decentralized change Uniswap, mentioned it was buying NFT aggregation platform Genie. And in April, OpenSea, the most important NFT market, acquired NFT aggregator Gem.

An NFT (non-fungible token) is a novel token linked to digital or bodily content material, offering proof of possession. They’ve exploded within the artwork and music world.

KnownOrigin is a UK-based platform that enables for the shopping for and promoting of NFT art work. It runs on the Ethereum blockchain and permits artists to mint NFTs too.

“KnownOrigin has constructed up a formidable, passionate and constant group of artists and collectors making them an ideal addition to our neighborhood of sellers and consumers,” Iannone mentioned within the assertion.

KnownOrigin co-founder David Moore added that the eBay partnership would assist “appeal to a brand new wave of NFT creators and collectors.”

Based in 2018, KnownOrigin is without doubt one of the first NFT marketplaces, and has generated $7.8 million in gross sales since its launch, according to DappRadar knowledge. NFT gross sales took successful in 2022 as market conditioned worsened, however Q1 buying and selling nonetheless topped $12 billion.

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