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eBay acquires KnowOrigin marketplace, expanding NFT business

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US e-commerce company eBay has acquired UK-based KnowOrigin, a Manchester-based company that allows artists and collectors to create, buy and resell NFTs.

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Financial details of the deal were not disclosed in a June 22 announcement. Press release.

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EBay CEO Jamie Iannone said:

“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. “.

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KnowOrigin commented on the acquisition in a post. Web site and noted eBay’s innovative culture, adding:

“eBay is currently undergoing a massive technological rethink and we are at the center of their vision. We’re excited to see how together we can empower our existing creators and introduce an entirely new global audience through this acquisition.”

KnowOrigin also stated that it believes the acquisition “will help attract even more creators and collectors to space.”

James Morgan, co-founder, explained the changes that may come with the acquisition in the FAQ section. mail on the environment. According to a Medium post, there are currently no plans to change the KnowOrigin team.

Morgan also stated in response to a FAQ about whether KnowOrigin artists could sell on eBay that “there will be no immediate change”.

Step forward in Web3

The acquisition of KnowOrigin signals that eBay continues to strive to delve deeper into Web3 and integrate its platform.

Given the increased popularity of collectibles, the e-commerce giant launched its first NFT Collection in May. In collaboration with OneOf, the company launched a collection called “Genesis” that featured animated and 3D interpretations of the iconic athletes featured on the covers of Sports Illustrated.

Spotify recently announced that it is testing new features that will enable NFT integration, and Polygon has partnered with Meta to create an NFT platform for Instagram and Facebook.

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