eBay buys the marketplace for art NFTs KnownOrigin | TechBuzz

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eBay acquires digital art marketplace KnownOrigin, another step into web3 for the e-commerce giant.

eBay launches fully and totally into non-fungible tokens (NFT): the company specializing in e-commerce has just acquired KnownOrigin, a known and recognized marketplace for digital art NFTs. As CoinDesk clarifies, eBay did not communicate the amount of the transaction for this acquisition, but the platform explains that this acquisition is an “important step in [sa] réimagination tech”.

eBay buys digital art marketplace KnownOrigin

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KnownOrigin has been around since 2018 and offers artists a platform they can use to create and sell their creations as NFTs in exchange for cryptocurrency payments. According to information from DappRadar, which analyzes data on decentralized apps, KnownOrigin has generated no less than $7.8 million in NFT transactions since its inception.

Jamie Iannone, CEO of eBay, said in a statement: “eBay is the first stop for people around the world who are looking for that perfect, hard to find or totally unique new piece to add to their collection and with this acquisition we will continue to be a leading site as our community identifies more and more digital collectibles.”

A further step into web3 for the e-commerce giant

eBay took its first steps into the NFT market as part of its “tech reimagining” last year. The platform enabled the sale of NFTs in May 2021 for sellers who meet the company’s standards. At the time, it told Reuters that it would add more features “to bring blockchain collectibles” to its platform. That same month, she also launched her own NFT collection, consisting of 13 limited-edition items featuring 3D renderings of hockey legend Wayne Gretzky. No doubt the company will launch other NFT collections in the coming months. eBay and OneOf, its web3 partner for the Gretzky drop, said they planned to launch more NFTs in the coming months with more sports and revised versions of iconic Sports Illustrated covers.

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