eBay announces acquisition of KnownOrigin for an undisclosed amount

Blockchain Crypto Market Cryptocurrency
June 23, 2022 by CoinSurges
18
eBay has announced the acquisition of KnownOrigin, a marketplace supporting non-fungible tokens (NFTs) This acquisition is aimed at helping eBay move into the blockchain world





eBay has announced the acquisition of KnownOrigin, a marketplace supporting non-fungible tokens (NFTs). This acquisition is aimed at helping eBay move into the blockchain world and enable its users to interact with digital collectibles.

Get best and latest bitcoin news today with coinsurges.

eBay acquires KnownOrigin

eBay is one of the largest ecommerce platforms globally. A press release published on Wednesday said that KnownOrigin had been acquired by eBay for an undisclosed amount. eBay is a platform that allows artists and collectors to create, buy and sell NFTs.

The co-founder of KnownOrigin, David Moore, said that the platform had been created to support creators and collectors by allowing them to “showcase, sell, and collect unique authenticated digital items.”

Buy Bitcoin Now

Your capital is at risk.

Note: Check breaking stories and Latest Cryprocurrency News with coinsurges.

“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,” Moore added.

The CEO of eBay, Jamie Iannone, talked about the growth that eBay has achieved by being a traditional online marketplace. Iannone noted that eBay had differentiated itself from others in the market by promoting unique digital collectibles.

“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.

Related: Check Live price, charts, and trading for the best cryptocurrencies like Bitcoin, Ethereum, Shiba Inu, Dogecoin etc.

eBay’s venture into NFTs

This acquisition aligns with the plans made by eBay to support technological innovation. The company is leveraging crypto and blockchain technology to boost its operations. eBay is one of the oldest ecommerce companies, positioning itself as a go-to marketplace for millennials and Gen Z.

Earlier this year, several reports said eBay was looking to adopt cryptocurrency payments. This is in line with the effort made by several companies to allow their users to adopt cryptocurrency payments. Ecommerce platforms have been pushing for crypto payments to grow their user base.

One of the top use cases for NFTs is digital artwork. Over the past year, there has been a rise in digital artworks in the NFT space, with some collections being traded for millions of dollars. Including NFTs on eBay could help drive up volumes as the platform has around 187 million active users.

Read more:

  • How to buy Cryptocurrencies
  • How to buy Bitcoin

Lucky Block – Our Recommended Crypto of 2022

Our Rating

Lucky Block
  • New Crypto Games Platform
  • Featured in Forbes, Nasdaq.com, Yahoo Finance
  • LBLOCK Token Up 1000%+ From Presale
  • Listed on Pancakeswap, LBank
  • Free Tickets to Jackpot Prize Draws for Holders
  • Passive Income Rewards – Play to Earn Utility
  • 10,000 NFTs Minted in 2022 – Now on NFTLaunchpad.com
  • $1 Million NFT Jackpot in May 2022
  • Worldwide Decentralized Competitions

Lucky Block

Visit Site
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

Read Entire Article

Related: Coins Marketcap

Related posts

Add a comment