Global e-commerce giant eBay has acquired non-fungible token (NFT) marketplace KnownOrigin, as part of efforts to become a leader in digital collectibles.
The news of the acquisition was announced in a press release on Wednesday (June 22, 2022). While details of the purchase remain scarce, the statement noted that both parties have signed and closed the deal.
Meanwhile, eBay noted that the acquisition of the NFT marketplace was an important step in the company’s entrance into the world of digital collectibles, as it aims to become a top global destination for such items.
According to a statement from eBay CEO Jamie Iannone:
“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 was founded in 2018 and allows artists and collectors to showcase, sell, and collect unique digital items. Co-founder David Moore said it was the perfect time to partner with a major company like eBay.
“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.”
The latest development comes shortly after eBay partnered with Web 3 company OneOf, to launch a hockey-themed NFT collection. Back in 2021, the e-commerce marketplace enabled the sale of NFTs on its platform.