eBay expands presence in NFTs market with acquisition of KnownOrigin

eBay and KnownOrigin did not disclose the terms of the acquisition.

Global e-commerce platform eBay Inc. (Nasdaq: EBAY) has announced its acquisition of leading NFT marketplace KnownOrigin.

According to a press announcement published on Wednesday, eBay’s deal to acquire KnownOrigin was signed and closed as of June 22, 2022. The companies did not disclose the amount of money involved.

eBay said that the acquisition marks a crucial step in its tech-led re-imagination, with the development set to make it the world’s top destination for digital collectibles.

Jamie Iannone, CEO of eBay added:

“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.”  

KnownOrigin is a UK-based NFT platform founded in 2018, and has become one of the largest destinations for artists and collectors. On the other hand, eBay started allowing its customers to buy and sell NFTs in May 2021.