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eBay acquires KnownOrigin, expanding its foray into NFTs and blockchain

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cointelegraph.com

eBay, an e-commerce giant, has announced the acquisition KnownOrigin, a nonfungible token (NFT) marketplace that will help the e-commerce company foray further into the world of blockchain technology and digital collectibles.According to a press release on Wednesday, Manchester-based KnownOrigin has been purchased for an undisclosed amount.

The firm enables artists and collectors to create, purchase and resell NFTs via blockchain-enabled transactions. KnownOrigin co-founder David Moore in a statement said that the company was founded to "empower creators and collectors by giving them the ability to showcase, sell and collect unique, authenticated digital items," adding that:eBay began allowing users to buy and sell NFTs in May of last year, at a time when increasing public interest in digital collectibles resulted in precipitous price increases.

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