On June 22, the famous Amazon competitor, eBay, acquired KnownOrigin, one of the leading NFT platforms. With this acquisition, eBay joins NFT-oriented startups like OpenSea and RareBits to solidify their positions in the asset class.
According to the official press release, the acquisition is part of the company’s “tech-led reimagination.” As of now, the companies have not mentioned the financial details of this acquisition.
To become one of the leading NFT platforms, KnownOrigin provides a full range of value-added services including issuance, exchange, escrow, and settlement. The NFT ecosystem has experienced significant growth over the last few years, and according to eBay CEO Jamie Iannone, the e-commerce giant is looking forward to hosting a passionate community of artists and collectors.
KnownOrigin was founded in 2018, making it one of the world’s oldest marketplaces. The Manchester-based start-up, which began in a basement, raised £3.5 million in investment after completing its Series A round in February.
Lannone has said repeatedly that the firm is exploring cryptocurrency payments, although the San Jose, California-based company has yet to implement them.
In 2013, the e-commerce behemoth, which rose to popularity during the late 1990s dot-com boom, has been meeting up with the idea of accepting Bitcoin.
