EBay Expands NFT Foray With ‘KnownOrigin’ Marketplace Acquisition

The world’s largest e-commerce enterprise, eBay has extended its reach into the world of digital collectibles and blockchain by acquiring Manchester-based marketplace KnownOrigin.

The move comes only a month after eBay released its debut NFT collection in partnership with Tezos and Polygon-based NFT platform OneOf.

Timing Right for KnownOrigin

KnownOrigin enables artists and collectors to create, purchase and resell NFTs via blockchain-enabled transactions. Co-founder David Moore said in a statement that the company was built to “empower creators and collectors by giving them the ability to showcase, sell and collect unique, authenticated digital items”.

Moore added:

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.

David Moore, co-founder, KnownOrigin

eBay Continues Digital Exploration

It was just over a year ago that eBay began allowing its users to buy and sell NFTs, at a time when the market exploded. Its foray into collectibles shows continued interest in leveraging cryptocurrency and blockchain technology to improve its operations, and eBay has even begun looking into integrating crypto payment options.

Jamie Iannone, eBay’s chief executive, said in a statement:

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.

Jamie Iannone, chief executive, eBay