What is the intention of e-commerce giant eBay to acquire knownorigin?

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According to relevant news, e-commerce giant eBay has acquired knownorigin in NFT market.

As part of the platform's strategy to expand into emerging asset classes,EBay is trying to provide its users with a convenient way to enter the "new era of digital collections".

EBay is one of the most popular platforms in the world. In 2021, eBay had more than 182million users and more than 100million monthly visits. The platform generated billions of dollars in transaction volume and up to 10billion dollars in revenue.

Therefore, any NFT collection listed on eBay seems to get more attention. As eBay announced, collectors are using the platform to search for valuable items.

Jamie Iannone, CEO of eBay, expressed his views on the acquisition and the platform as a collector's platform. He said:“EBay is the first stop for global users to find perfect and unique collections. Through this acquisition, we will continue to be the world's leading website and add more and more digital collections to our community.

Knownorigin acquired by eBay enables users to create, purchase and trade NFT collections and blockchain based transactions.

The press release said that the knownorigin platform has experienced "significant growth, which has completely changed the way people trade with digital assets".

Iannone added, "knownorigin has built an impressive, passionate and loyal group of artists and collectors, making them the perfect complement to our community. We look forward to these innovators joining the eBay community."

James Morgan, co-founder of knownorigin, said that eBay would allow its users to conduct NFT transactions in May 2021, and knownorigin would join eBay to help them implement Web3 functions.

In addition, Morgan stressed thatKnownorigin will expand to "have more audiences" and become a "true global platform"

Regarding the cooperation with eBay, Morgan said: "one of the main reasons why we made this decision is that eBay's culture has a firm belief in the promotion of community and innovation. EBay is currently carrying out a large-scale technology led redesign, and we are the core of their vision. We are pleased to see how we can jointly enhance the capabilities of existing creators and introduce a new global audience through this acquisition."

According to dappradar, the current total transaction volume of knownorigin is $7.8 million. The platform was established in 2018 and served 5187 traders.

In contrast, opensea, one of the world's most popular platforms, has completed $30billion in trading volume and 1831532 traders since its establishment in 2017.

As Morgan said, the partnership with eBay may make knownorigin a competitor to opensea.

The original text is from bitcoinist and compiled by blockchain knight. The English copyright belongs to the original author. Please contact the editor for Chinese reprint.

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