EBAY NOW OWNS KNOWORIGIN MARKETPLACE FOR UNDISCLOSED AMOUNT!

Today, eBay made the acquisition of Manchester-based NFT marketplace KnownOrigin official. The deal’s financial details weren’t made public. However, according to them, the transaction was finalized and signed on June 22.

2018 saw the founding of KnownOrigin by Andy Gray, David Moore, and James Morgan. The three co-founders of eBay are all joining. The platform enables creators, buyers, and sellers of NFTs to do so. According to the buyers, the staff and the company’s assets are being acquired.

“We are the first stop for people searching for that perfect, hard-to-find, and unique addition to their collection. 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 welcome these innovators as they join our community.”

One month after launching its initial assortment of NFTs in collaboration with web3 platform OneOf, the company made the deal. The company’s new “Genesis” NFT Collection will include 3D and animated depictions of the legendary athletes. They have appeared on Sports Illustrated covers throughout the years. According to the giant marketplace, the growth of the collectibles industry-inspired its first partnership in the NFT sector.

Despite having a substantial internet presence, eBay will have its job cut out for competing with the many existing crypto-native NFT markets. However, the company’s acquisition of KnownOrigin shows that it is seriously considering NFTs.

According to eBay, NFTs are a crucial area for corporate growth. The business’s recent acquisition strengthens its foray into the blockchain and digital collectibles industries.