E-commerce and online auction giant eBay has announced that the company has acquired non-fungible token (NFT) marketplace Nonorigin. eBay announced that the acquisition is “an important step in the technology-led reimagining of eBay.”
eBay buys NFT Marketplace to make e-commerce site world’s top destination for collectibles
Ebay revealed on Wednesday that the company has purchased 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 data from dappradar.com, the marketplace has generated $7.8 million in sales so far.
The e-commerce and online auction corporation said Wednesday that the acquisition is “an important step in the tech-led reimagining of eBay, ushering in a new era of digital collecting as the world’s top destination for collectibles.” CEO Jamie Iannone also spoke about the acquisition, saying that NFT Marketplace was a leader in the digital collectibles industry. However, eBay did not disclose the financial status behind the deal and the company said that the deal was signed and closed on June 22, 2022.
“Ebay is the first stop around the world for those 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 is adding digital collectibles,” Ianon explained in a statement. eBay CEO said:
Knownorigin has built up an influential, 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.
The Knownorigin acquisition of Ebay occurs during the crypto winter, and a time when many believe that there will be considerable mergers and acquisitions within the crypto industry. During the first week of June, Ripple Labs CEO Brad Garlinghouse said: “I think M&A in the blockchain and crypto space will accelerate.” Additionally, FTX CEO Sam Bankman-Fried explained in late May that FTX is prepared to deploy billions on acquisitions.
Two days before the Nonorigin acquisition, the company that operates the decentralized exchange (DX) Uniswap, Uniswap Labs, announced that it has acquired NFT aggregation platform Genie. “In pursuit of our mission to unlock universal ownership and exchange, today we are expanding our products to include both ERC-20 and NFTs,” Uniswap Labs elaborated. “We are excited to announce that we have acquired Genie, the first NFT marketplace aggregator that lets anyone find and trade NFTs on most platforms.”
What do you think about eBay’s acquisition of Nonorigin? Let us know what you think about this topic in the comment section below.
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