eBay Acquires Their Own NFT Marketplace Through Auction Process
eBay the popular multinational e-commerce company that specializes in customer-to-customer sales has now decided to shift their focus into the digital world by purchasing an NFT marketplace called KnownOrigin. The NFT marketplace was purchased through an auction site that is being conducted by tech-led reimagination.
However, the purchase of the KnownOrigin NFT marketplace by eBay was done discreetly as the amount wasn’t disclosed but we obviously know that it’s going to be a huge sum of money. eBay’s interest in NFTs didn’t just start now, they have been allowing sales of NFTs on their platform and them having their own NFT marketplace now is going to be a big boost for them.
David Moore the CEO of KnownOrigin has however called the deal a partnership and he went ahead in saying that he predicted it due to the bear market that also affected the company and also he hopes that the partnership will help brings new users to the marketplace and boost the platform.
He said "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 25 years building similar communities of passionate individuals, we are excited by the opportunity to bring a whole new audience on this journey."
Some people might not know this but KnownOrigin is actually one of the world first NFT marketplace and one of the largest that is built on the Ethereum blockchain network. It was founded in 2018 and since then it has seen a lot of growth and has created an easy platform where artists can create their own unique and authentic digital arts or collectibles and allows users to buy and sell NFTs in any way they like.
After acquiring the NFT marketplace, the CEO of eBay said "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."
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