eBay Acquires KnownOrigin to Further its Foray Into NFTs

eBay has furthered its journey into NFTs through the acquisition of UK-based NFT marketplace KnownOrigin in its entirety.

eBay has extended its adventure into NFTs through the acquisition of the UK-based NFT marketplace, KnownOrigin. 

The global e-commerce powerhouse officially announced the take-over yesterday, where it stated that it has acquired the entirety of KnownOrigin, including its IP and team, for an undisclosed fee. All three of KnownOrigin’s co-founders will therefore be joining eBay in unspecified roles. 

eBay’s purchase of an explicit Web3 entity illustrates the company’s ambition to eventually provide its users with a fully immersive blockchain-infused shopping experience. Such a journey was kicked-off in May through the launch of a Wayne Gretzky-inspired NFT collection in partnership with OneOf, however, because of the company’s relatively primitive position within the space, only fiat payments for the digital assets could be made.  

Although eBay’s next NFT-centric move is yet to be announced, it can be thought that with the experience and tech of KnownOrigin now at its helm, it most probably won’t be long until the company launches its first crypto-facilitating collection of NFTs.

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