eBay Acquires Leading NFT Marketplace, KnownOrigin

• The deal combines eBay’s reach and reputation with KnownOrigin’s leading technology to empower a new wave of NFT creators, sellers and buyers

eBay Inc. (Nasdaq: EBAY), a global commerce leader that connects millions of sellers and buyers around the world, and KnownOrigin, one of the most innovative non-fungible token (NFT) marketplaces, today announced that eBay has acquired KnownOrigin. KnownOrigin’s technology and platform provides artists a place to create unique, authentic, digital collectibles, in the form of NFTs. 

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. KnownOrigin, which was founded in 2018 in Manchester, UK, 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 Jamie Iannone, CEO of eBay. “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.”  

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, buy or sell anything. As a part of this, eBay 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, KnownOrigin. “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. With more than twenty-five years building similar communities of passionate individuals, we are excited by the opportunity to bring a whole new audience on this journey. 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.”

Details on the Transaction

eBay is acquiring KnownOrigin and the companies have signed and closed the deal as of June 21, 2022. Further details were not disclosed. 

Source : eBay

For all the very latest news and intelligence on the UK's largest home improvement and garden retailers, sign up for the Insight DIY weekly newsletter.