eBay buys NFT art marketplace KnownOrigin

eBay is acquiring digital art marketplace KnownOrigin in another step towards web3 for the e-commerce giant.

eBay goes all-out to non-fungible tokens (NFT): The e-commerce company has just acquired KnownOrigin, a well-known and established marketplace for NFT digital art. As CoinDesk explains, eBay did not disclose the transaction amount for this acquisition, but the platform explains that the acquisition is “an important step in [its] technological reinvention.”

eBay buys digital art marketplace KnownOrigin

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 decentralized application data, KnownOrigin has generated at least $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 looking for this perfect, hard-to-find or completely unique new item to add to their collection, and with this acquisition, we will continue. be the leading site as our community finds more and more digital collectibles.”

Another step towards web3 for the e-commerce giant

eBay took its first steps into the NFT market as part of its “technological rethink”last year. The platform allowed NFTs to be sold in May 2021 to merchants that meet the company’s standards. At the time, the company told Reuters that it would be adding additional features “to bring collectibles on the blockchain” to its platform. The same month, she also launched her own 13-piece limited edition NFT collection featuring 3D renderings of hockey legend Wayne Gretzky. No doubt, the company will release other NFT collections in the coming months. eBay and OneOf, its web shipping partner Gretzky,