E-Commerce Giant Ebay Acquires NFT Marketplace Knownorigin – Bitcoin News

The e-commerce and on-line public sale big Ebay has introduced the company has acquired the non-fungible token (NFT) market Knownorigin. Ebay declared that the acquisition is an “important step in Ebay’s tech-led reimagination.”

Ebay Purchases NFT Marketplace in Order to Make E-Commerce Site the World’s Top Destination for Collectibles

Ebay revealed on Wednesday that the company has bought the NFT market Knownorigin. Last February, Ebay’s chief govt officer, Jamie Iannone, mentioned NFTs, cryptocurrencies, and the way the company continues to “evaluate other forms of payments.” Knownorigin is a UK-based company and in keeping with dappradar.com stats, {the marketplace} has seen $7.8 million in all-time gross sales.

The e-commerce and on-line public sale company mentioned on Wednesday that the acquisition is an “important step in Ebay’s tech-led reimagination, ushering in a new era of digital collecting to the world’s top destination for collectibles.” CEO Jamie Iannone additionally spoke in regards to the acquisition and mentioned that the NFT market was a frontrunner within the digital collectibles trade. Ebay, nonetheless, didn’t disclose the financials behind the deal and the company mentioned the deal was ​​signed and closed on June 22, 2022.

“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,” Iannone defined in an announcement. The Ebay CEO added:

Knownorigin has constructed up a powerful, passionate, and dependable group of artists and collectors making them an ideal addition to our neighborhood of sellers and patrons. We stay up for welcoming these innovators as they be a part of the Ebay neighborhood.

Ebay’s Knownorigin acquisition comes in the course of the crypto winter, and a time when many consider there shall be fairly a little bit of mergers and acquisitions inside the crypto trade. During the primary week of June, Ripple Labs CEO, Brad Garlinghouse mentioned: “I think there’ll be an uptick in M&A in the blockchain and crypto space.” Additionally, FTX CEO Sam Bankman-Fried defined on the finish of May that FTX is able to deploy billions on acquisitions.

Two days earlier than the Knownorigin acquisition, the company that operates the decentralized change (dex) Uniswap, Uniswap Labs, announced that it acquired the NFT aggregation platform Genie. “In pursuit of our mission to unlock universal ownership and exchange, today we’re expanding our products to include both ERC-20s and NFTs,” Uniswap Labs detailed. “We’re excited to announce that we’ve acquired Genie, the first NFT marketplace aggregator, which lets anyone discover and trade NFTs across most platforms.”

Tags on this story
Brad Garlinghouse, eBay, Ebay CEO, ebay crypto, ebay nfts, Genie, Jamie Iannone, Knownorigin, M&A, Mergers and acquisitions, nft, NFT Market, NFT gross sales, NFTs, Sam Bankman-Fried, UK-based company, uniswap

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Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a monetary tech journalist dwelling in Florida. Redman has been an energetic member of the cryptocurrency neighborhood since 2011. He has a ardour for Bitcoin, open-source code, and decentralized functions. Since September 2015, Redman has written greater than 5,000 articles for Bitcoin.com News in regards to the disruptive protocols rising at present.

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