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Ebay expands crypto activities and buys NFT marketplace Knownorigin



 Ebay continues its involvement in digital collectibles with the acquisition of British company Knownorigin . The Ethereum -based platform claims to be one of the first and largest NFT marketplaces in the world. It ranks sixth on nonfugible.com's market tracker . In the press release, Ebay writes that the acquisition is an important step in the company's "technology-led realignment". It also heralds a "new era of digital collecting at the world's premier destination for collectibles."


10 million euros market volume in 4 years

The Knownorigin platform has existed since 2018. At that time it was founded in Manchester, where it is still based today. According to Dappradar, it has facilitated $7.8 million in trading volume since then . In its own dashboard, Knownorigin states that it has processed a total of 31,081 sales worth 9,247 ethers – this corresponds to around ten million euros (9.76 million dollars) at the current exchange rate.

Ebay CEO Jamie Iannoe says of the marketplace: "Knownorigin has built an impressive, passionate and loyal group of artists and collectors, making it a perfect addition to our community of sellers and buyers." David Moore, one of the founders of the NFT network , looks forward to the reach and experience that the future parent company will bring to the platform. Most recently, he and his team raised $4.3 million for Knownorigin in Series A funding. That was in February.


eBay has allowed NFT trading since 2021

How high the purchase price for the e-commerce multinational was is unknown. Observers consider the step to be understandable, since Ebay is moving more and more in this direction. The first NFT artworks were allowed to be sold on the platform in May 2021 . At that time, the leadership announced that it would bring further "capabilities" for blockchain-based collectibles to the platform. A year later, about a month ago, Ebay presented its first own NFT collection . The group marketed the sports artworks from the field of hockey together with the platform Oneof and the magazine Sports Illustrated.

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