KnownOrigin has just announced on Twitter that eBay has acquired its NFT marketplace for an undisclosed price. The Manchester UK-based KnownOrigin was founded in 2018 by Andy Gray, David Moore, and James Morgan. All three co-founders will apparently be joining eBay. The KnownOrigin platform enables artists and collectors to create, buy and resell NFTs. KnownOrigin has facilitated $7.8 million in trade volume since its launch, based on figures from DappRadar.
eBay’s recent web3 tech-led restructuring has resulted in significant upgrades to the company’s technology, performance, and customer experience. This has included tools that make it easier than ever to discover, sell or buy items. As a part of this expansion, eBay began incorporating the buying and selling of NFTs back in May.
The acquisition comes a month after eBay launched its first collection of NFTs in partnership with web3 platform OneOf. The company’s new NFT Collection will feature 3D and animated interpretations of the iconic athletes featured on Sports Illustrated covers over the years. eBay says the surge in the collectibles market led to its first collaboration in the NFT space.
