• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
      • Casino utan svensk licens
      • Non Gamstop Casinos
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Casinos
  • Play Games
  • Play Casino Games
  • Best crypto casino
Breaking News: KyberSwap Hacker Demands Full Control, Sets December 10th Deadline
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
      • Casino utan svensk licens
      • Non Gamstop Casinos
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Casinos
  • Play Games
  • Play Casino Games
  • Best crypto casino
Bitcoinist.com
No Result
View All Result
Breaking News: KyberSwap Hacker Demands Full Control, Sets December 10th Deadline
ebay nft

Why E-commerce Giant eBay Acquired NFT Marketplace KnownOrigin

Reynaldo Marquez by Reynaldo Marquez
1 year ago
in NFT
0

According to a press release, e-commerce giant eBay has acquired the NFT marketplace KnownOrigin. As part of the platform’s strategy to expand into the nascent asset class, eBay is trying to provide its users with access to a “new era of digital collecting”.

Related Reading | Can The ECB Regulate Crypto In “Depth”? President Calls for More Legislation

This platform is one of the most popular around the world, there were over 182 million people on eBay in 2021 with over 100 million visitors per month. The platform records billions of dollars in trading volume and as much as $10 billion in revenue.

Therefore, any NFT collection listed on eBay seems poised to gain a lot of attention. As the release claims, the platform is used by collectors to track down precious items. Jamie Iannone, CEO of eBay said the following about this acquisition and the platform’s reputation as a collector’s venue:

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.

The e-commerce giant purchased KnownOrigin because the platform enables users to create, buy, and trade with NFT collection and blockchain-based transactions. The release claims that the platform has experienced “significant growth as it has revolutionized the way people” trade with digital assets. Iannone added:

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 enabled its users to trade with NFTs in May 2021, according to KnownOrigin co-founder James Morgan, the blockchain-based platform has joined the e-commerce giant to help them implement Web3 capabilities.

Into The NFT Space, What Is eBay’s Strategy?

In addition, Morgan emphasized that KnownOrigin will expand to a “much bigger audience” and become a “truly worldwide platform”. On their partnership with eBay, Morgan said:

One of the main reasons why we have taken this decision is because eBay’s culture is fueled by a strong belief in community and innovation (…). eBay is currently undertaking a massive tech-led reimagination and we are at the heart of their vision. We’re excited to see how together we can empower our existing creators and introduce a whole new global audience through this acquisition.

Data from DappRadar records that KnownOrigin has $7.8 million in total trading volume. The platform was founded in 2018 and since that time, it records that 5,187 traders have used its services.

In comparison, OpenSea, one of the most popular platforms in the world, records $30 billion and 1,831,532 traders since it was founded in 2017. The eBay partnership, as Morgan said, could allow KnownOrigin to catch up with OpenSea and become a competitor.

Related Reading | Uniswap Unfazed By Bear Market Scare, Buys NFT Marketplace Aggregator Genie

At the time of writing, ETH’s price trades at $1,110 with a 5% loss in the last 24 hours.

Ethereum ETH ETHUSD
ETH’s price trends to the downside on the 4-hour chart. Source: ETHUSD Tradingview
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Reynaldo Marquez

Reynaldo Marquez

As an editor at NewsBTC, Reynaldo is an experienced journalist passionate about all things crypto. Reynaldo has interviewed key industry leaders, and created unique pieces analyzing the promise of crypto as the next frontier for an economic and social transformation of humanity. Since 2018, he has been at the forefront of the industry, closely following every major development and analyzing critical events at the heart of the crypto industry. With a keen eye for detail and an unwavering commitment to excellence, Reynaldo has been instrumental in bringing the latest news and insights to the crypto community. Outside of work, Reynaldo enjoys lifting weights and literature, which he believes gives him a unique perspective into the world of crypto. As an aspiring trader, he is always looking for new opportunities to explore and believes that crypto holds the key to unlocking the future of finance.

Related Posts

NFT

Disney Ventures Into NFT: Collaborates With Dapper Labs For Pixar And Star Wars Collectibles

3 weeks ago
NFT

NFTs Are Seeing A Resurgence: Signs Of Crypto Bull Market?

3 weeks ago
NFT

NFT Boom: CryptoPunks Collection Shines With 900% Trading Volume Increase

3 weeks ago
NFT

The Biggest NFT Marketplace Is Sacking 50% Of Its Workforce – Here’s Why

1 month ago
Elon Musk

Elon Musk Fires Shots At NFTs: A New Wave Of Controversy?

1 month ago
NFT floor price

Floor Prices Of BAYC, Top NFT Collections Rising: Why Is This Analyst Skeptical?

1 month ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Top Casinos

Trust Dice
Trust Dice
Punt Casino
Punt Casino
mBit
mBit
Inmerion
Inmerion

Press Releases

  • Top 3 Altcoins to Explode in December: BNB, ADA, and QUBE

    6 hours ago
  • Avalanche and NEAR Protocol Displaying Promise, While a New...

    6 hours ago
  • Crypto Race 2023: Rebel Satoshi, Arbitrum, and EOS Lead the...

    7 hours ago
  • 3 Reasons Memeinator Tops List of Altcoins to Watch in 2023

    11 hours ago
  • Meme Coin that Makes an Impact – How Chimpzee Strengthens...

    11 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
      • Casino utan svensk licens
      • Non Gamstop Casinos
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Casinos
  • Play Games
  • Play Casino Games
  • Best crypto casino

© 2023 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.