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Ebay has acquired NFT marketplace KnownOrigin for an undisclosed sum, marking another major move to capture demand for digital collectibles.
UK-based KnownOrigin was set up in 2018 and allows artists and collectors to create, buy and resell NFTs on the Ethereum blockchain. In a statement, Ebay CEO Jamie Iannone said the acquisition would help it to “remain a leading site as our community is increasingly adding digital collectibles”.
He said 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”.
Ebay introduced the option to buy and sell NFTs in May 2021 and released its first collection last month with NFT platform OneOf. Ebay adds to a small but growing list of companies seeking to tap into Web3 communities through strategic acquisitions. Nike acquired Rtfkt in December 2021, and Disney is rumoured to be making a big acquisition in the NFT space.
Ebay said KnownOrigin has seen “significant growth” since launch, although it did not disclose figures. “This partnership will help us attract a new wave of NFT creators and collectors,” said KnownOrigin co-founder David Moore.
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