eBay has acquired popular non-fungible token (NFT) marketplace KnownOrigin.
The deal was formally closed on Wednesday, however details on the transaction left undisclosed.
KnownOrigin was founded in 2018 in the UK and allows for users to create, purchase and resell NFTs through blockchain-supported transactions.
The online marketplace giant first allowed the trading of NFTs in May 2021. It last month announced the launch of its own NFT collection through a partnership with OneOf, a sustainable NFT platform.
“eBay is the first stop for people across the globe who are searching for that perfect, hard-to-find, or unique addition to their collection and, with this acquisition, we will remain a leading site as our community is increasingly adding digital collectibles,” eBay chief executive Jamie Iannone said.
“KnownOrigin has built up an impressive, 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.”
KnownOrigin’s co-founder David Moore added: “As interest in NFTs continues to grow, we believe now is the perfect time for us to partner with a company that has the reach and experience of eBay,
“With more than twenty-five years building similar communities of passionate individuals, we are excited by the opportunity to bring a whole new audience on this journey.
“This is the start of a new chapter in the KnownOrigin story and we couldn’t choose a better time to focus on building and innovating with the team at eBay. This partnership will help us attract a new wave of NFT creators and collectors.”