eBay Acquires NFT Marketplace KnowOrigin To Enhance Web3 Experience

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  • eBay acquires NFT mar­ket­place KnowO­ri­gin on Wednesday.
  • This acqui­si­tion is believed to enhance the e‑commerce firm’s vision of inte­grat­ing web3 tech­nol­o­gy into its system.
  • The acqui­si­tion amount is undisclosed.

The inter­na­tion­al e‑commerce plat­form eBay announced that it acquired NFT mar­ket­place KnowO­ri­gin on June 22 to break­through into a new era of web3. The amount of the acqui­si­tion is undisclosed.

This acqui­si­tion will enable eBay to mate­ri­al­ize its vision of becom­ing the world’s lead­ing des­ti­na­tion for col­lectibles. eBay is cur­rent­ly under­go­ing tech-led reimag­i­na­tion for upgrad­ing the company’s tech­nol­o­gy, per­for­mance, and con­sumer expe­ri­ence by includ­ing tools to enhance the user expe­ri­ence of buy­ing, sell­ing, and dis­cov­er­ing items.

The CEO of eBay Jamie Ian­none con­veyed his enthu­si­asm regard­ing the acqui­si­tion, stating:

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

More­over, he believes that KnowO­ri­gin has built an impres­sive, pas­sion­ate, and loy­al group of artists and col­lec­tors. Hence, he quips the NFT mar­ket­place as a per­fect fit for eBay’s com­mu­ni­ty of sell­ers and buyers.

Speak­ing at the occa­sion, the co-founder of KnowO­ri­gin, David Moore men­tioned that “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.”

How­ev­er, the shares of eBay are present­ly trend­ing close to their 52-week low of $40.5, where­in Gold­man Sachs’ deval­u­a­tion to sell has cre­at­ed exter­nal pres­sure on the stock for the past two weeks.

Found­ed in 2018, KnowO­ri­gin is an NFT mar­ket­place that offers artists and col­lec­tors to cre­ate, buy, and resell NFTs via blockchain-sup­port transactions.

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