eBay Announces Acquisition NFT Marketplace KnownOrigin

eBay Inc. (Nasdaq: EBAY) continues to deepen its footprint in digital collectables. The e-commerce giant announced on Wednesday that it has acquired the U.K-based non-fungible token (NFT) marketplace KnownOrigin. The terms of the acquisition were undisclosed.

The latest acquisition is important for eBay’s tech-led reimagination as part of the company’s effort to develop a top destination platform for digital artwork collectables as well as sales.

Jamie Iannone, CEO of eBay, talked about the development: “we will remain a leading site as our community is increasingly adding digital collectables. 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.”

Since established in 2018 in Manchester, UK, KnownOrigin has remained a marketplace that allows collectors and artists to create, purchase, and resell NFTs via blockchain-support transactions. Since its establishment, KnownOrigin has witnessed huge growth and trade volumes as it has revolutionized the way users create, buy, and sell NFTs.

eBay’s tech-led reimagination has resulted in massive upgrades to the firm’s technology, performance and customer experience, including tools making it easier to discover, buy and sell anything.

As a part of such reinvention, last month, eBay started allowing the buying and selling of NFTs with the launch of its first collection of NFTs in partnership with web3 platform OneOf. The firm said the surge in the collectables market led to its first-ever collaboration in the NFT landscape.

Rising Demands of NFT

Crypto has shown its potential to the world about its real efficiency and shaping the economy of the digital era. Likewise, NFTs, a niche of cryptocurrency, has created another way of reaching the top, building what crypto took years to develop in decades.

NFTs have created a way for the artists and many other professionals to showcase and mint their works as NFTs. It is a great diversion in the crypto era where users began working on mining their NFTs.

The NFT market has introduced businesses, investors, users, and ordinary people to exploit great opportunities. More celebrities, including musicians, sportspersons, movie stars, and others have turned their interests in this digital token to create their own NFT collections and sell them.

The NFT craze has remained as strong in 2022 as it was last year. Lots of big mainstream businesses are setting up NFT shops in hopes of discovering a new revenue model.

Everyone from GameStop, Visa, The NFL (National Football League), Softbank, Coinbase, Rackuten, WWE (World Wrestling Entertainment), Tech Mahindra, Spotify, Associated Press, USFL, Animoca Brands, and other have their own NFT marketplaces in some stage of planning, while some have launched recently.

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eBay Considers to Accept Crypto Payments for Entice Millennials

In its bid to become the primary marketplace for all things digital, e-commerce marketplace eBay is likely on its way to accepting digital currency payments on its platform.


As reported by TheStreet who interviewed the company’s Chief Executive Officer, Jamie Iannone, the plan has neither been confirmed nor refuted by the trading marketplace, however, there is a confirmation that some revelations will be made on March 10, the day the company dedicates for its investors.

Iannone is keen on making eBay the go-to marketplace for everything, bordering on both physical and digital objects. While the physical objects are already featuring prominently on the platform, the CEO noted that a number of digital assets, especially Non-Fungible Tokens (NFTs) are already being traded on the eCommerce marketplace.

“So even without announcing anything or doing anything, people started trading NFT on a platform,” Iannone continued. “It reminded me of many years ago when people just started selling cars when we didn’t even have a vehicle business at that point. So we’re seeing the same type of thing [with NFT].”

In a bid to better serve the customers that are more likely to utilize this relatively unpopular technology to conduct transactions, eBay believes exploring as many alternative sources of payment processing is now imperative more than ever.

Digital currencies are becoming increasingly popular by the day. While they are well-suited as a means of payment, worldwide, regulatory restrictions have often made these assets operate almost entirely in the shadows, thus hampering their bid to journey unto mainstream adoption. This, coupled with their high volatility has made e-commerce platforms avoid accepting payments in cryptocurrencies.

A limited number of mainstream supermarkets or e-commerce outfits are already changing their minds about crypto payments. Konzum, one of the biggest supermarket chains in Croatia, is one of the welcoming outfits that accepts Bitcoin payments, and should eBay pull through with the assumption of adding crypto payments, it will join the list of pioneering marketplaces to do so.

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Oscar Mayer auctions one-off pack of ‘Hot DOGE’ Wieners

American manufactured meat company Oscar Mayer is auctioning off a one-of-one pack of “Hot Doge Wieners” on Ebay.

The limited edition pack of Dogecoin themed wieners includes 10 sausages and a picture of the beloved Shiba Inu dog on the packaging, along with the “cash equivalent” of 10,000 Dogecoin (DOGE).

The auction is set to close on Aug. 7 however the listing has been temporarily taken down with the firm noting on Twitter today that “you guys really took this to the moon. The link is down but will be up soon!”

During the initial hours of bidding, Redditors in the r/dogecoin community spotted a bid of $3050 during the auction. That might seem like a lot considering the “collectors item” has a maximum shelf life of three months (if stored in a freezer) — and the winner needs to allow “3-5 weeks for delivery”. However the cash value of 10K DOGE is just over $2000, so that’s only $1050 for the chance to own some perishable hot “doges”.

The auction is part of Ebay’s Auctions for Charity, and all of the proceeds from the sale will go to the food bank and hunger relief organization Feeding America. Oscar Mayer’s profile picture on Twitter currently contains a picture of Doge wearing Oscar Mayer shades.

Oscar Mayer’s charity efforts and DOGE-themed marketing campaign come at a time when the number one memecoin is struggling to recover from the crypto downturn which began back in May. DOGE hit an all time high of $0.73 on May 8 and has since declined by more than 70% to around 20 cents according to data from CoinGecko.

While the price of DOGE has struggled of late, another memecoin backed by a Reddit community has taken the lead on price. The price r/CryptoCurrency Moons (MOON) coins has increased by 112% over the past week, going from $0.16 on July 29 to $0.34 as of today.

While it’s worth more than DOGE technically, it’ll take a monumental shift to officially usurp the throne from DOGE, as MOON had a 24-hour trading volume of $79,000 compared to $931 million for Dogecoin.

Related: Brand executive posts discounted Utah home listing for Dogecoin

Oscar Mayer joins a long list of popular brands that have jumped on Dogecoin promotional bandwagon. Cointelegraph reported on July 20 that male grooming product manufacturer Axe launched a limited run of body spray cans dubbed “Dogecan”.

Other firms to join in on the fun include Slim Jims, Snickers and Milky Way, all of which celebrated Doge Day on April 20.