EBay Acquires UK-based NFT Marketplace KnownOrigin

E-commerce giant eBay has picked up Manchester-based NFT marketplace KnownOrigin for an undisclosed sum in a deal finalized Tuesday

article-image

App for eBay on mobile device. Credit: Shutterstock

share

key takeaways

  • The purchase comes on the heels of eBay’s sports-themed NFT collection unveiled in May
  • The appetite for NFTs has wavered in recent months

Global e-commerce platform eBay said Wednesday it has acquired a UK-based NFT marketplace for an undisclosed sum in a bid to further its efforts in the digital collectible arena.

Founded in 2018 in Manchester, UK, KnownOrigin is a blockchain-powered marketplace allowing artists and collectors to create, buy and sell NFTs (non-fungible tokens). The deal, while scant in detail, has been finalized as of Tuesday, according to a statement.

The move follows eBay’s recent foray into the NFT sector, where the platform launched its sports-themed Genesis collection in May despite waning interest from collectors and investors for digital collectibles. EBay first began allowing the purchase and sale of NFTs in May 2021.

“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,” eBay’s CEO Jamie Iannone said in the statement. “We look forward to welcoming these innovators as they join the eBay community.”

NFTs have slowly edged toward the mainstream since early 2020 following renowned digital artist Beeple’s sale of his “The First 5000 Days” for over $69 million at auction house Christie’s. That sale sparked a flurry of ambitious and opportunistic sellers hoping to cash in on the lucrative trade.

Current market conditions have since seen a slow down of sales and interest in digital collectibles, having peaked late last year. Data from the 90-day trading activity on popular NFT marketplaces such as OpenSea show a steady month-to-month decline.

Still, a company such as eBay — which facilitated over $87 billion in gross merchandise volume last year — could prove to be a boon for the budding sector by lifting the profile of NFTs within the minds of the average consumer.

EBay’s move toward the sale and purchase of NFTs can also be viewed as a defensive stance since its biggest rival, Amazon, began flirting with the idea back in April.

Amazon CEO Andy Jassy previously said at the time he envisioned a “possible” future where the platform sold digital collectibles backed by blockchain tech, though details of when and if that would happen remain unclear.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

Industry City | Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Brooklyn, NY

SUN - MON, JUN. 22 - 23, 2025

Blockworks and Cracked Labs are teaming up for the third installment of the Permissionless Hackathon, happening June 22–23, 2025 in Brooklyn, NY. This is a 36-hour IRL builder sprint where developers, designers, and creatives ship real projects solving real problems across […]

recent research

Research Report Templates.png

Research

Ethena Labs is leaping from its flagship synthetic dollar, USDe, to a full product suite—USDtb, iUSDe, and the Arbitrum-based Converge Chain—designed to marry crypto-native yields with TradFi-grade compliance. Our analysis shows how expanding into CME, ETF options, and tokenized Treasuries could lift protocol revenue from sub-$500 million in a bear case to several billion dollars if favorable regulation and institutional adoption align.

article-image

The L1’s Interwoven Stack is the most opinionated tech stack yet

article-image

Bitcoin is still rising, 11 years after the documentary film The Rise and Rise of Bitcoin

article-image

Arch Labs CEO told Blockworks that the team plans to launch a native token, but declined to give details

article-image

CEO Mike Silagadze tells Blockworks that the US is “open for business” and why its DeFi bank offering is the first of many

article-image

Doing one thing well and leaving everything else out is often what disruptive technologies do best