Key Takeaways
- eBay introduced immediately that it has acquired KnownOrigin, a Manchester-based NFT market for visible artwork.
- The deal will see EBay make use of KnownOrigin’s co-founders and workforce and purchase its mental property.
- The corporate has been regularly integrating NFTs since Might 2021; final month, it launched its personal assortment on Polygon.
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The net commerce big eBay has acquired KnownOrigin, a market for non-fungible tokens, or NFTs.
eBay Closed KnownOrigin Deal As we speak
In a press release immediately, eBay mentioned that it has acquired KnownOrigin. It introduced it had closed the deal immediately for an unknown quantity.
KnownOrigin was based in April 2018 in Manchester to help visible artwork NFTs. In line with OpenSea, the gathering has 80,600 gadgets and has moved 8300 ETH ($8.8 million). Gadgets within the assortment are owned by 13,400 people.
EBay CEO Jamie Iannone mentioned in a press release that eBay is a “first cease” for e-commerce. He added that immediately’s acquisition of KnownOrigin will enable it to “stay a number one web site as our neighborhood is more and more including digital collectibles.”
David Moore, co-founder of KnownOrigin cited the “attain and expertise of eBay” as the explanation his firm made the deal. Moore famous that cooperation will enable it to “entice a brand new wave of NFT creators and collectors.”
Studies from TechCrunch recommend that KnownOrigins’s co-founders—Andy Grey, David Moore, and James Morgan—will all be a part of eBay. The phrases of the deal reportedly embrace the corporate’s mental property and its whole workforce.
Different Websites Are Supporting NFTs
E-commerce websites appear to be a pure match for managing the sale of non-fungible tokens, and a number of other corporations throughout the business are exploring the chance.
eBay has been regularly integrating blockchain for over a yr. The agency introduced that it might start NFT integration in Might 2021 and introduced a digital pockets in March 2022. It additionally launched its personal sports activities NFT assortment on Polygon final month.
Additionally immediately, eBay competitor Shopify revealed that it’ll introduce NFT-gated storefronts accessible solely to sure token holders. Shopify first introduced NFT help in July 2021.
Alibaba affiliate Alipay started to work with NFTs in 2021. Amazon CEO Andy Jassy hinted at NFT gross sales this April.
Outdoors of e-commerce, Uniswap has simply introduced that it’ll purchase the NFT market Genie.
Disclosure: On the time of writing, the writer of this piece owned BTC, ETH, and different cryptocurrencies.
