eBay completes NFT marketplace acquisition

eBay has acquired a Non-Fungible Token (NFT) marketplace.

UK-based KnownOrigin was founded in 2018 and enables artists and collectors to create, buy, and resell NFTs via blockchain-supported transactions.

The acquisition aligns with Ebay’s ‘tech reimagination’ having begun allowing the buying and selling of NFTs in May 2021.

Jamie Iannone, chief executive of Ebay, commented: "Ebay is the first stop for people across the globe who are searching for that perfect, hard-to-find, or unique addition to their collection and, with this acquisition, we will remain a leading site as our community is increasingly adding digital collectibles.

"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."

David Moore, co-founder of KnownOrigin, said: “We founded KnownOrigin 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.”

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