eBay Acquires KnownOrigin, Will Become Key Part of Platform

eBay announced that it had purchased NT marketplace KnownOrigin for an undisclosed sum. eBay has said the acquisition will play an important part in its “tech-led reimagination.”

In a Nutshell:

• eBay acquired KnownOrigin for an disclosed sum and will integrate it deeply within its existing strategy.
• The platform wants to strengthen its presence as a platform for collectibles, and that goes for digital collectibles as well.
• eBay already allows the buying and selling of NFTs, a feature it added in May 2021.

What it Means:

• This could provide a huge boost to eBay’s status as a platform where rare collectibles are sold. eBay is already quite popular as such a platform, and the addition of this NFT marketplace could quickly get eBay off the ground when it comes to the NFT sector.