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

E-commerce and online auction giant Ebay has announced that the company has acquired the non-fungible token (NFT) marketplace known as Knownorigin. Ebay announced that the acquisition is an “important step in reimagining the technology-led company Ebay.”

Ebay is buying NFT Marketplace in order to make the e-commerce site the world’s best destination for collectibles

ebay open On Wednesday, the company has bought NFT market a favour. 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 statsThe market saw $7.8 million in sales all the time.

The e-commerce and online auction company said Wednesday that the acquisition is “an important step in reimagining tech-led eBay, ushering in a new era of digital collection into the world’s number one destination for collectibles.” CEO Jimmy Enon also spoke about the acquisition and said that NFT Marketplace was a pioneer in the digital collectibles industry. However, Ebay did not disclose the financial data behind the deal and the company said the deal was signed and closed on June 22, 2022.

“Ebay is the first stop for people around the world looking for that perfect hard-to-find or unique addition to their collection, and with this acquisition, we will continue to be a leading site as our community increasingly adds digital collectibles,” Ebay CEO Iannon explained in a statement.

Knownorigin has assembled a wonderful, passionate and loyal group of artists and collectors making them the perfect addition to our community of sellers and buyers. We look forward to welcoming these innovators when they join the Ebay community.

The acquisition of Knownorigin from Ebay comes during the crypto winter, a time when many believe there will be a significant amount 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 a slight increase in M&A in the blockchain and crypto space.” In addition, FTX CEO Sam Bankman-Fried made it clear at the end of May that FTX was ready to deploy billions in acquisitions.

Two days before the acquisition of Knownorigin, the company that operated the decentralized exchange (dex) Uniswap and Uniswap Labs, announce It acquired the NFT Genie aggregation platform. “In pursuit of our mission to unleash global ownership and exchange, today we are expanding our products to include both ERC-20s and NFTs,” Uniswap Labs details. “We are excited to announce our acquisition geniethe first NFT market aggregator, which allows anyone to discover and trade NFT across most platforms.”

Tags in this story

Brad Garlinghouse, eBay, CEO, Ebay, eBay crypto, ebay nfts, Genie, Jamie Iannone, Knownorigin, M&A, M&A, nft, NFT Market, NFT sales, NFTs, Sam Bankman-Fried, UK-based company, uniswap

What do you think of getting eBay Knoworigin? Tell us what you think about it in the comments section below.

Jimmy Redman

Jamie Redman is the head of news at Bitcoin.com News and a technology financial journalist based in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

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