Ebay acquires the NFT marketplace based in Great Britain
Ebay acquires the NFT marketplace based in Great Britain
- The purchase of Knownorigin by eBay is followed by the NFT collection "Genesis" on the subject of sport of the e-commerce platform, which was presented in May
- The takeover takes place because the current market climate and the appetite for NFTS have decreased in recent months
The global e-commerce platform Ebay announced on Wednesday that it has acquired an NFT marketplace based in Great Britain for a non-mentioned sum to drive its efforts in the field of digital collectors.
Knownorigin was founded in Manchester in 2018, Great Britain, and is a blockchain-based marketplace that enables artists and collectors not to create, buy and sell fungal tokens. The deal, although hardly in detail, was concluded on Tuesday.
The step follows the latest foray from eBay to the NFT sector, where the platform in May, despite the declining interest of collectors and investors in digital collector's pieces, launched its “Genesis” sports collection. Ebay allowed the purchase and sale of NFTS for the first time in May 2021
"Knownorigin has built up an impressive, passionate and loyal group of artists and collectors, which makes her a perfect addition to our community of sellers and buyers," said Jamie Iannone, CEO from Ebay. "We look forward to welcoming these innovators when they join the Ebay Community."
nfts have slowly moved towards the mainstream after renowned digital artists since the beginning of 2020. href = "https://www.christies.com/features/monumumental-collage-by-beeple-is-first-purely-digital-Art-nft-to-come-11510-7.aspx"> beeples sale of his "The First 5000 Days" for over 69 million dollar in the auction house Christie’s. This sale triggered a flood of ambitious and opportunistic sellers who hoped to benefit from the lucrative trade.
The current market conditions have since led to slowing down sales and interest in digital collector's pieces, which reached its peak at the end of last year. Data from 90-day trade activity on popular NFT marketplaces such as Z open sea show a steady decline from month to month.
Nevertheless, a company like eBay-which made it possible for over $ 87 billion $ 87 billion in the past year-could prove to be a blessing for the emerging sector by Profile of nfts in the heads of the average consumer.
The step of eBay for sale and purchase of NFTS can also be seen as a defensive attitude, since his greatest competitor Amazon began to flirt with this idea in April.
The CEO of Amazon, Andy Jassy, said beforehand that he had a " possible Future in which the platform sold digital collector's items that were supported by blockchain technology about when and whether this would happen, are still unclear.
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The Ebay post acquires British NFT marketplace Knownorigin is not a financial advice.