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Brad Garlinghouse, eBay, Ebay CEO, ebay crypto, ebay nfts, Genie, Jamie Iannone, Knownorigin, M&A, Mergers and acquisitions, nft, NFT Market, NFT sales, NFTs, Sam Bankman-Fried, UK-based company, uniswap
E-commerce giant Ebay buys NFT Marketplace Knownorigin – Bitcoin News
E-commerce and online auction giant Ebay has announced that the company has acquired non-fungible token (NFT) marketplace Knownorigin. Ebay declared the acquisition an “important step in Ebay’s technology-led reimagination.”
Ebay acquires NFT Marketplace to make the e-commerce site the world’s best destination for collectibles
Ebay revealed on Wednesday that the company has acquired NFT marketplace Knownorigin. Last February, Ebay CEO Jamie Iannone discussed NFTs, cryptocurrencies and how the company continues to “evaluate other forms of payments.” Knownorigin is a UK-based company and according to dappradar.com statistics, the marketplace has seen $7.8 million in sales over time.
The online retail and online auction company said Wednesday that the acquisition is a “significant step in Ebay’s technology-led reimagination, ushering in a new era of digital collecting into the world’s premier destination for collectibles.” CEO Jamie Iannone also spoke about the acquisition, saying the NFT market was a leader in the digital collectibles industry. However, Ebay did not disclose the financials behind the deal, and the company said the deal was signed and completed on June 22, 2022.
“Ebay is the first stop for people around the world looking for the perfect, hard-to-find or unique addition to their collection, and with this acquisition we will remain a leading site as our community increasingly adds digital collectibles,” explained Iannone in a statement. The Ebay boss added:
Knownorigin has built an impressive, passionate and loyal group of artists and collectors making them a perfect addition to our community of sellers and buyers. We look forward to welcoming these innovators as they join the Ebay community.
Ebay’s Knownorigin acquisition comes during the crypto winter, a time when many believe there will be quite a lot of mergers and acquisitions in the crypto industry. During the first week of June, Ripple Labs CEO Brad Garlinghouse said, “I think there will be an increase in M&A in the blockchain and crypto space.” In addition, FTX CEO Sam Bankman-Fried explained at the end of May that FTX is ready to distribute billions on acquisitions.
Two days before the Knownorigin acquisition, the company that runs the decentralized exchange (dex) Uniswap, Uniswap Labs, announced that it acquired the NFT aggregation platform Genie. “In pursuit of our mission to unlock universal ownership and exchange, we are today expanding our products to include both ERC-20s and NFTs,” Uniswap Labs detailed. “We are excited to announce that we have acquired Genie, the first NFT marketplace aggregator, allowing anyone to discover and trade NFTs across most platforms.”
What do you think about Ebay buying Knownorigin? Let us know what you think about this topic in the comments section below.
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