The e-commerce heavyweight eBay reportedly disclosed details of its KnownOrigin acquisition – an NFT marketplace that will enable deeper footprints in blockchain and digital collectibles for the firm. 

Specifically, Manchester-headquartered KnownOrigin has reportedly been a part of eBay after an acquisition for an anonymous sum took place. 

The company offers a measure for artists and collectors to create, purchase and resell NFTs using blockchain-based transactions. 

KnownOrigin co-founder David Moore further revealed that the entity was reportedly established with a goal to “empower creators and collectors by giving them the ability to showcase, sell and collect unique, authenticated digital items”. 

“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.”

EBay started rolling out features supporting the purchasing and selling of NFTs in May 2021, at a time when public interest towards digital collectibles were on the rise, leading to surged in the price value. 

In May, the e-commerce heavyweight reportedly disclosed details of its debut collection of NFTs, via a partnership with OneOf, a green NFT platform.

“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.” eBay chief executive Jamie Iannone additionally remarked. 

The initiative serves as signs displaying eBay’s unwavered interest towards utilizing crypto and blockchain to enhance its operations. eBay is among the pioneering entities in the e-commerce sphere, and is now working towards a goal of turning into the go-to destination for Generation Z and illennials.