eBay Acquires Main NFT Market, KnownOrigin

eBay Acquires Main NFT Market, KnownOrigin

The deal combines eBay’s attain and repute with KnownOrigin’s main know-how to energy a brand new wave of NFT creators, sellers and patrons.

SAN JOSE, Calif., June 22, 2022 /PRNewswire/ — eBay Inc. (Nasdaq: EBAY), a worldwide commerce chief connecting thousands and thousands of sellers and patrons around the globe, and KnownOrigin, one of the vital revolutionary non-fungible token (NFT) marketplaces, introduced right this moment that eBay has acquired KnownOrigin. KnownOrigin’s know-how and platform give artists a spot to create distinctive and genuine digital collectibles, within the type of NFTs.

This acquisition is a crucial step in eBay’s technological reinvention, ushering in a brand new period of digital amassing on this planet’s main vacation spot for collectibles. KnownOrigin, which was based in 2018 in Manchester, UK, permits artists and collectors to create, purchase and resell NFTs by blockchain-enabled transactions. Since its founding, KnownOrigin has seen important development because it has revolutionized the best way individuals create, purchase, and promote NFTs.

“eBay is the primary cease for individuals around the globe searching for that good, hard-to-find or one-of-a-kind addition to their assortment, and with this acquisition, we are going to proceed to be a number one website as our neighborhood provides increasingly collectibles.” digital,” he mentioned. jamie iannon, CEO of eBay. “KnownOrigin has constructed a powerful, passionate and dependable group of artists and collectors, making them the proper addition to our neighborhood of sellers and patrons. We look ahead to welcoming these innovators as they be a part of the eBay neighborhood.”

eBay’s technological reinvention has resulted in important enhancements to the corporate’s know-how, efficiency and buyer expertise, together with instruments that make it simpler than ever to find, promote or purchase something. As a part of this, eBay started permitting the shopping for and promoting of NFTs in Might 2021.

“We based KnownOrigin to empower creators and collectors by giving them the flexibility to show, promote, and accumulate distinctive and authenticated digital gadgets,” he mentioned. David Moore, co-founder, KnownOrigin. “As curiosity in NFTs continues to develop, we imagine now could be the proper time to companion with an organization that has the attain and expertise of eBay. With over twenty-five years constructing related communities of passionate individuals, we’re excited for the chance to interact an entire new viewers on this journey. That is the beginning of a brand new chapter within the KnownOrigin story and we could not have picked a greater time to concentrate on constructing and innovating with the eBay crew. This partnership will assist us entice a brand new wave of NFT creators and collectors”.

Particulars of the transaction

eBay is buying KnownOrigin and the businesses signed and closed the deal as of June 22, 2022. No additional particulars had been revealed.

About eBay

eBay Inc. (Nasdaq: EBAY) is a worldwide enterprise chief connecting individuals and constructing communities to create financial alternative for all. Our know-how empowers thousands and thousands of patrons and sellers in additional than 190 markets around the globe, giving everybody the chance to develop and prosper. Based in 1995 in San Jose, Calif.eBay is without doubt one of the world’s largest and most vibrant marketplaces for locating nice worth and distinctive choice. In 2021, eBay allowed greater than $87 billion of the gross quantity of products. To be taught extra concerning the firm and its world portfolio of on-line manufacturers, go to www.ebayinc.com.

Ahead-looking statements

Sure statements contained herein are “forward-looking statements” throughout the which means of Part 27A of the Securities Act of 1933, as amended, and Part 21E of the Alternate Act. Such forward-looking statements are sometimes recognized by phrases similar to “anticipate”, “approximate”, “imagine”, “commit”, “proceed”, “may”, “estimate”, “count on”, “count on”, “intend”. , “could”, “prospect”, “plan”, “challenge”, “potential”, “ought to”, “would”, “will” and different related phrases or expressions. Such forward-looking statements replicate eBay’s present expectations or beliefs concerning future occasions and precise occasions could differ materially from historic outcomes or present expectations. The reader is cautioned to not place undue reliance on these forward-looking statements, which aren’t a assure of future efficiency and are topic to various uncertainties, dangers, assumptions and different components, a lot of that are past eBay’s management. Ahead-looking statements on this doc deal with a wide range of subjects together with, for instance, the potential advantages of the acquisition, together with sustaining eBay’s place within the collectible class and attracting new audiences to the NFT market. The next components, amongst others, may trigger precise outcomes to vary materially from these described in these forward-looking statements: the likelihood that eBay could not totally notice the projected advantages of the acquisition and enterprise interruption following the transaction. As well as, precise outcomes are topic to different dangers and uncertainties that relate extra broadly to eBay’s basic enterprise, together with these extra totally described in eBay’s filings with the Securities and Alternate Fee, together with its annual report within the Type 10-Ok for the fiscal 12 months ended. December 31, 2021 and subsequent quarterly experiences on Type 10-Q. Ahead-looking statements on this doc communicate solely as of this date. We undertake no obligation to publicly revise or replace any forward-looking assertion, besides as required by regulation.

SOURCE eBay Inc.

Leave a Reply

Your email address will not be published.