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E-Commerce Giant Ebay Acquires NFT Marketplace Knownorigin

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E-commerce and online auction giant Ebay has announced that the company has acquired the non-fungible token (NFT) marketplace Knownorigin. Ebay said the acquisition is “an important step in the technological reinvention of Ebay.”

Ebay buys NFT marketplace to make e-commerce site the world’s best collectible

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ebay disclosed on Wednesday, the company acquired an NFT trading floor. known origin. Last February, Ebay CEO Jamie Iannone discussed NFTs, cryptocurrencies, and how the company continues to “evaluate other forms of payments.” Knownorigin is a British company and according to statistics dappradar.comthe market has seen $7.8 million in all-time sales.

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The E-commerce and Online Auction Corporation said on Wednesday that the acquisition is “an important step in the technological reinvention of Ebay, ushering in a new era of digital collecting in the world’s best collecting place.” CEO Jamie Iannone also spoke about the acquisition and said the NFT market is a leader in the digital collectibles industry. Ebay, however, did not disclose the financials of the deal, and the company said the deal was signed and closed on June 22, 2022.

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“Ebay is the first stop for people from all over the world looking for the perfect, hard-to-find or unique addition to their collection and with this acquisition we will remain the leading site as our community increasingly adds digital collectibles. “, Iannone explained in a statement. Ebay’s CEO added:

Knownorigin has built an impressive, passionate and dedicated group of artists and collectors, making them a great addition to our community of sellers and buyers. We look forward to welcoming these innovators as they join the Ebay community.

The acquisition of Knownorigin from Ebay came during the crypto winter when many believe there will be a lot of M&A in the crypto industry. During the first week of June, Ripple Labs CEO Brad Garlinghouse said, “I think there will be a surge in M&A across the blockchain and crypto space.” In addition, FTX CEO Sam Bankman-Fried explained in late May that FTX is willing to spend billions on acquisitions.

Two days before the acquisition of Knownorigin, the decentralized exchange (dex) company Uniswap, Uniswap Labs, announced that it acquired the NFT aggregation platform Genie. “Following our mission of universal ownership and exchange, today we are expanding our products to include ERC-20 and NFT,” Uniswap Labs said. “We are pleased to announce that we have purchased Geniethe first NFT marketplace aggregator that allows anyone to find and trade NFTs on most platforms.”

What are your thoughts on acquiring Knownorigin Ebay? Let us know what you think about it in the comments section below.

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Credit : news.bitcoin.com

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