E-commerce and online auction giant Ebay has announced that the company has acquired non-fungible token (NFT) marketplace Knownorigin.Ebay has declared the acquisition ” important step in Ebay’s technology-driven restructuring,” declaring it “an important step in Ebay’s technology-driven restructuring.
Ebay acquires NFT Marketplace to make the e-commerce site the world’s number one collector’s site
Ebay revealed on Wednesday that the company has acquired NFT Marketplace and Knownorigin. Last February, Ebay CEO Jamie Iannone spoke about NFTs, cryptocurrencies, and the company’s continued “evaluation of other forms of payment. “Knownorigin is a UK-based company,according to dappradar.com statisticsAccording toThe marketplace has recorded $7.8 million in all-time sales.
The e-commerce and online auction company said Wednesday that the acquisition is “an important step in Ebay’s technology-driven restructuring and ushers in a new era of digital collecting at the world’s top destination for collectibles.” said CEO Jamie Iannone, who also discussed the acquisition, noting that NFT’s marketplace is a leader in the digital collectibles industry. However, Ebay did not reveal the financials behind the deal, and the company said the deal was signed and closed on June 22, 2022.
“Ebay is the first stop for people around the world 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 adds digital collectibles ” explained Iannone in a statement, while Ebay’s CEO added:
Knownorigin has built an impressive, passionate, and loyal group of artists and collectors who are the perfect addition to our seller and buyer community. We look forward to adding such an innovative company to the Ebay community.
Ebay’s acquisition of Knownorigin comes during the crypto winter, and a time when many believe 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 there will be a rise of m&A in the blockchain and crypto space”. Additionally, Sam Bankman-Fried, CEO of FTX, explained that FTX is ready to spend billions on acquisitions at the end of May.
Two days before the Knownorigin acquisition, Uniswap Labs, the company behind the decentralized exchange (dex) Uniswap,announcedthat it had acquired NFT aggregation platform Genie.” Uniswap Labs elaborated, “In pursuit of our mission of unlocking universal ownership and exchange, today we are expanding our product offering to include both ERC-20 and NFT.” We are excited to announce that we have acquired, we have acquired Genie, we have acquired
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