NFT: eBay becomes the owner of the KnownOrigin marketplace

News hardware NFT: eBay becomes the owner of the KnownOrigin marketplace

The famous online commerce site, eBay, continues its adoption of Web3… After a first collection of NFTs, the company decided to extend its activity around the blockchain by acquiring KnownOrigin, a platform for buying and reselling NFT.

eBay in the Web3

eBay has become a giant of web commerce since its creation in 1995. The platform created by Frenchman Pierre Omidyar has established itself over the years in the online sale of new and used collectibles between professionals. and individuals.

To maintain its leading position against its fierce competitors (vinted, leboncoin, etc.), the company is always ready to innovate by exploring new technologies and functionalities. To this end, eBay offered a first collection of NFTs dedicated to top athletes in May 2022.

To launch this NFT project as well as possible, eBay had collaborated with the resale platform of NFT OneOf, a marketplace specializing in sports and music.

“eBay’s first-ever NFT ‘Genesis’ collection will be animated and 3D depictions of iconic athletes who have graced the cover of Sports Illustrated magazine over the years,” eBay announced last month.

To summarize, briefly, since May eBay has been releasing collections of NFTs featuring athletes in short videos. Each collection is limited and several rarities are available.

For example, the latest one features a representation of the famous boxer Mohamed Ali in 3D:

  • 25 NFT diamond at 2385 €
  • 199 NFT platinum at 238 €
  • 399 NFT gold at 120 €

A first experience that motivated the company to do more in the web3 sector in order to create its own NFT ecosystem.

EBay acquires NFT marketplace KnownOrigin

The company has decided to buy NFT’s Manchester-based buy and resell platform KnownOrigin.

KnownOrigin is a marketplace of artistic NFTs on the Ethereum blockchain (the most frequently used in the field of NFTs) created in 2018, long before the frenzy around NFTs.

No details on future projects, however this acquisition suggests that the web giant wants to settle permanently in the world of NFTs.

NFTs: a gold mine for e-commerce platforms

An NFT (non-fungible token) is a virtual property title, associated with a digital object such as a photo, a 3D model, a video, etc. This blockchain-based technology is a real innovation for creating virtual rarity.

With more than 50 billion dollars in volume crossed in April 2022, the NFT market represents a huge opportunity for online commerce platforms like Ebay.

Because of its experience in the collection sector, the company finds a certain legitimacy in being able to offer their service in the world of “blockchain collectibles”.

“eBay is a top choice for people around the world looking for items…to add to their collection and with this acquisition we will continue to be a leading site as our community increasingly seeks digital collectibles.” said Jammy Lannone, CEO of eBay.

After sales records on Pokemon cards or even on pairs of sneakers, will the platform be able to repeat this kind of performance in the NFT universe?

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NFT: eBay becomes the owner of the KnownOrigin marketplace


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