eBay buys NFT marketplace KnownOrigin

eBay announced today that it has acquired NFT marketplace KnownOrigin, a platform where artists can create, buy and sell digital collectibles.

The global commerce leader’s investment in Web3 is the next in a string of corporate support for the metaverse this year.

“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,” said Jamie Iannone, CEO of eBay.

“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 look forward to welcoming these innovators as they join the eBay community.”

The acquisition was signed and closed as of June 21 2022.

eBay began allowing NFTs to be bought and sold on the platform in May of last year following its investment in technology upgrades to make buying and selling easier the company said.

According to David Moore, co-founder of KnownOrigin, “As interest in NFTs continues to grow, we believe now is the perfect time for us to partner with a company that has the reach and experience of eBay. With more than twenty-five years building similar communities of passionate individuals, we are excited by the opportunity to bring a whole new audience on this journey.

“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.”

Moore said that KnownOrigin was founded with the intent to empower creators and collectors by allowing them to buy and sell authenticated digital items on their platform.

“This partnership will help us attract a new wave of NFT creators and collectors,” he said.