KnowOrigin, eBay’s NFT platform, launches Creator Smart Contracts
The new Creators Smart Contracts will allow artists to share their revenue and earn royalties as co-creators.
On Thursday February 16, KnowOrigin – the non-fungible tokens (NFT) marketplace owned by eBay announced the launch of smart contracts for its artists.
Next week from February 24, all approved creators on KnowOrigin will be able to distribute and create work through their smart contracts. Also, the new contracts will allow artists to share their revenue and earn royalties as co-creators.
KnowOrigin noted that it has been beta testing the Creator Contract for the past few weeks. To date, 84 contracts have been distributed on the platform, and more than 250 issues have been minted. Moreover, KnowOrigin also announced its partnership with Deadfellaz. It noted:
“As part of our exciting release, we’ve teamed up with @Deadfellaz to release ‘Draw The Undead Season 2’, which consists of official spin-off tracks. These are live on KnownOrigin from today and will be available for purchase from 24th February .”
E-commerce giant eBay acquired KnowOrigin last year in June 2022 for an undisclosed amount. David Moore, co-founder of KnowOrigin noted that the Ethereum-based platform seeks to “empower creators and collectors by empowering them to showcase, sell and collect unique, authenticated digital objects”.
NFTs, eBay and KnowOrigin
E-commerce platform eBay started direct listing of NFTs on its platform in May 2021. However, the company has not integrated blockchain technology to support any transfers or crypto-based sales on the platform.
KnowOrigin conducted an airdrop in May 2022 asking users to use email or messaging on the platform to receive NFTs off-platform.
Founded three years back in 2022, KnowOrigin positioned itself as a dedicated boutique community of NFT artists and creators. XCOPY’s NFT collection is currently the most popular collection on the platform with 27 issues and 559 sales.
This NFT collection is popular for “digitally glitched” and flashing image artwork. Moreover, the collection has also surpassed $2.56 million in total sales volume.
This piece is featured using KnownOrigin Creator Contracts, using the collaboration feature that will be available to all approved creators on February 24th!
See the entire collection:
— KnownOrigin.io (@KnownOrigin_io) 16 February 2023
Furthermore, eBay is looking to aggressively expand into several different NFT roles and the Web3 space. eBay recently opened new positions for KnowOrigin and noted:
“KnownOrigin.io is an early Web3 pioneer, an NFT marketplace empowering a new generation of digital artists to express themselves, find an audience and make a living from their passion. And they’re looking for like-minded enthusiasts to join them in their venture!”
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