The US-based e-shop and online auction company will expand its services and allow its users to purchase digital collectibles.
eBay has announced the acquisition of the KnownOrigin non-fungible token trading platform. The financial terms of the deal were not disclosed, however, according to the company, the agreement was signed on June 22. eBay buys the platform along with the intellectual property and the team.
“eBay is the first place people go when they want to find something rare and hard to find to add to their collection. Our community is increasingly interested in digital collectibles and KnownOrigin has managed to assemble an impressive team of artists and collectors, making them the perfect addition to our community of sellers and buyers,” explains eBay CEO Jamie Iannone.
The purchase comes a month after the company launched its first NFT collection in partnership with the Web3 OneOf platform. The Genesis Collection features 3D and animated interpretations of the iconic athletes who have graced the cover of Sports Illustrated over the years.
According to KnownOrigin co-founder David Moore, interest in NFTs continues to grow despite the downturn in the cryptocurrency markets, and partnering with a company with the vast experience and reach of eBay will bring even more attention to the industry.
At the beginning of the year, the company announced that it intends to start accepting payments in digital currencies.
