World e-commerce agency eBay on Wednesday stated it has acquired NFT market KnownOrigin for an undisclosed quantity. The acquisition will assist eBay take an essential step in its mission to enter a brand new period of digital amassing to change into the world’s prime vacation spot for collectibles.
eBay Foray Deeper into NFT With Acquisition of KnownOrigin
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eBay in a press release on June 22 stated it has acquired the main NFT market KnownOrigin to breakthrough into a brand new period of digital amassing.
Jamie Iannone, CEO of eBay, stated:
“eBay is the primary cease for individuals throughout the globe who’re looking for that excellent, hard-to-find, or distinctive addition to their assortment and, with this acquisition, we are going to stay a number one web site as our group is more and more including digital collectibles.”
Furthermore, he believes KnownOrigin is a number one NFT market that has constructed a formidable, passionate, and dependable group of artists and collectors. Additionally, they’re an ideal addition to eBay’s group of sellers and patrons.
eBay is presently present process tech-led reimagination for upgrading the corporate’s know-how, efficiency, and buyer expertise, together with instruments to make it simpler for individuals to find, promote or purchase something. In actual fact, eBay’s CEO hinted at accepting crypto funds because the platform already accepted shopping for and promoting of NFTs in Might 2021.
Commenting on the success of KnownOrigin and the acquisition, David Moore, co-founder, KnownOrigin, stated:
“As curiosity in NFTs continues to develop, we consider now could be the right time for us to associate with an organization that has the attain and expertise of eBay.”
He additionally thinks the partnership will assist appeal to new NFT creators and collectors.
KnownOrigin’s Success Amid NFT Hype
KnownOrigin has established itself as one of many profitable NFT marketplaces in attracting prime artists and collectors. It has additionally partnered with main firms equivalent to Adidas, Netflix, and Adobe.
In February this 12 months, KnownOrigin raised $4 million in its Sequence A funding spherical. The funding was co-led by enterprise capital companies GBV and Sanctor Capital, in participation from Cultur3 Capital, D1 Ventures, MetaCartel Ventures DAO, LD Capital, Pluto Digital and Future Arts, Colborn, and Yin Cao.
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The journalist is a writer and digital nomad. Loves thinking, learning, and writing about all things Web3, particularly its impact on major creative industries.