eBay Acquires UK-based NFT Marketplace KnownOrigin

Global eCommerce platform eBay has announced that it has acquired the U.K.-based non-fungible token (NFT) marketplace KnownOrigin.

"This acquisition is an important step in eBay's tech-led reimagination, ushering in a new era of digital collecting to the world's top destination for collectibles," the company said in a statement.

KnownOrigin, which was founded in 2018 in Manchester, the United Kingdom, enables artists and collectors to create, buy and resell NFTs via blockchain-support transactions. Since its founding, KnownOrigin has seen significant growth as it has revolutionized the way people create, buy, and sell NFTs.

"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," said eBay CEO Jamie Iannone.

"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," Iannone added.

eBay's tech-led reimagination has resulted in significant upgrades to the company's technology, performance and customer experience, including tools that make it easier than ever to discover, sell or buy anything. The company began allowing the buying and selling of NFTs in May 2021.

"We founded KnownOrigin to empower creators and collectors by giving them the ability to showcase, sell, and collect unique, authenticated digital items," said David Moore, co-founder of KnownOrigin.

"This is the start of a new chapter in the KnownOrigin story and we couldn't choose a better time to focus on building and innovating with the team at eBay. This partnership will help us attract a new wave of NFT creators and collectors," he added.

The development comes shortly after eBay partnered with Web 3 company OneOf to launch a hockey-themed NFT collection.