Just like other giants, eBay is trying to remain relevant as Web3 and the metaverse is the new trend on the internet.

Just In! eBay has bought KnownOrigin – an NFT marketplace where artists can create and sell unique digital art as NFTs. Founded in 2018, KnownOrigin is a UK-based NFT marketplace that has gotten significant growth from the audience as it “revolutionized” how artists create and sell their digital collectibles.

This can potentially be a great deal for the eCommerce giant as they made this purchase in a bear market. Some of us would be surprised to see eBay set foot in this trend but that’s not true. Last year in May, they allowed NFTs to be traded on their 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”——Jamie Lannone, CEO of eBay

KnownOrigin is optimistic that this partnership will bring a whole new audience not only to the platform but also to this new digital trend.

“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 25 years of building similar communities of passionate individuals, we are excited by the opportunity to bring a whole new audience on this journey.”——David Moore, Co-founder of KnownOrigin