eBay acquires NFT marketplace KnownOrigin

Quick Take

  • eBay has acquired NFT marketplace KnownOrigin.
  • The marketplace began allowing the buying and selling of NFTs last year.

E-commerce giant eBay has acquired UK-based non-fungible token (NFT) marketplace KnownOrigin, the company announced in a statement on Wednesday.

The deal was signed on Tuesday. Further details have not been disclosed but the move is the latest in a series by the marketplace to reimagine itself as a tech-led company.

KnownOrigin co-founder David Moore said the partnership would help the NFT marketplace attract a new wave of NFT creators and collectors.

“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,” he said.

eBay began allowing the buying and selling of NFTs last year. It has hinted at having further crypto capabilities in the works.

In May this year, it launched a partnership with OneOf, an NFT platform specializing in selling music, sports and lifestyle digital assets. At the time, the company said it intends to release more NFT collections of high-profile athletes throughout 2022. 

The deal comes amid other consolidation in the market. Yesterday, Uniswap Labs, the main developer of the Uniswap decentralized exchange protocol, said that it has acquired non-fungible token (NFT) marketplace aggregator Genie.

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