What is the link between KnownOrigin, NFT marketplace and eBay?

The non-fungible token (NFT) world is buzzing with news. New launches of digital assets are underway, with fashion brand Coach having dropped its new collection lately. Separately, actor Keanu Reeves is reportedly supporting artists to enter Web 3.0, the latest version of the internet.

What can cheer many enthusiasts is the news that eBay Inc. has acquired an NFT marketplace. Even though eBay began supporting NFT sales on its platform in May last year, the latest acquisition might be a major shift.

eBay and KnownOrigin

eBay Inc. has, in a press release, reported that it had acquired KnownOrigin. The latter is an NFT marketplace, primarily for artists to create, showcase and sell their works as digital collectibles.

NFTs are considered a critical part of Web 3.0 and the metaverse. eBay’s deal with KnownOrigin indicates that the e-commerce leader is following companies like Meta and Microsoft. Mark Zuckerberg rebranded Facebook as Meta last year. Earlier this year, Microsoft announced the acquisition of Activision Blizzard, which some see as the tech giant’s move into the metaverse.

eBay has acquired an NFT marketplace, which can be indicative of big companies’ continuous acknowledgement of the metaverse and digital assets.

Also read: NFT Corner: Coach’s NFT drop; Keanu Reeves to help NFT artists

What is KnownOrigin

Like most other NFT participants, KnownOrigin also uses Ethereum’s blockchain services. The marketplace can be used by artists to mint new NFTs. Digital art lovers can use the platform to bid for any artwork.

KnownOrigin is not the only marketplace for NFT assets. A few other major names include SuperRare, which was used by Madonna to unveil NFTs last month, and Rarible. Both SuperRare and Rarible have their own native crypto tokens. OpenSea is another major player, operating on a bigger scale than KnownOrigin.

Also read: Gas Monkey NFTs set to launch in near future

Are NFTs expensive?

NFTs can be very expensive, which some critics say is just because of the craze for blockchain technology. This year, Madonna’s NFT collection could not invite very heavy bids. However, some works of artists like Pak and Beeple are very expensive. These have been sold in auctions for millions of dollars each. BAYC NFTs and that of CryptoPunk are also big names in NFTs.

Bottom line

KnownOrigin marketplace’s acquisition by an e-commerce major might revive some hopes in the crypto world. Cryptocurrencies and NFTs share many similarities, including the use of blockchain. How the acquisition helps eBay to move into the growing world of digital assets is yet to be seen.

Also read: NFT corner: Protests held in Manhattan; Udder Chaos NFTs launched

Risk Disclosure: Trading in cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory, or political events. The laws that apply to crypto products (and how a particular crypto product is regulated) may change. Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading in the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed. Kalkine Media cannot and does not represent or guarantee that any of the information/data available here is accurate, reliable, current, complete or appropriate for your needs. Kalkine Media will not accept liability for any loss or damage as a result of your trading or your reliance on the information shared on this website.

$(document).ready(function() { $('[data-toggle="popover"]').popover({ trigger: "manual", html: true, animation: false, content:function() { //return $('#popover-content').html(); return $($(this).attr('data-id')).html(); } }) .on("mouseenter", function() { var _this = this; $(this).popover("show"); $(".popover").on("mouseleave", function() { $(_this).popover('hide'); }); }).on("mouseleave", function() { var _this = this; setTimeout(function() { if (!$(".popover:hover").length) { $(_this).popover("hide"); } }, 300); }); var $window = $(window); $window.scroll(function(){ var scroll = $window.scrollTop(); var winheight = $(window).height(); var documentheight = $(document).height(); var postcontent = $(".entry-content").height(); var post_side = $("#post_side").height(); var footer__widgets = $(".footer--dark").height(); var footersection=footer__widgets+post_side; var footersectionmin=documentheight-(footer__widgets+post_side)-300; if(postcontent>=1020 && (scroll >= 1020 && scroll<=footersectionmin) ){ $("#post_side").addClass("lead-generation-style"); } else{ $("#post_side").removeClass("lead-generation-style"); } }); $('.post-content-height img').on('click', function () { var image = $(this).attr('src'); console.log(image); $("#postContentImage").attr("src", image); $('#imageModal').modal('show'); }); }); function shareButton(type){ if(type == 'facebook'){ // window.open(facebook,'facebook-share-dialog',"width=626, height=436"); $(document).ready(function() { $.ajaxSetup({ cache: true }); $.getScript('//connect.facebook.net/en_US/sdk.js', function(){ FB.init({ appId: '298913885601990', version: 'v2.7' }); // $('#loginbutton,#feedbutton').removeAttr('disabled'); // FB.getLoginStatus(updateStatusCallback); FB.ui({ method: 'share', href: "https://kalkinemedia.com/au/news/cryptocurrency/what-is-the-link-between-knownorigin-nft-marketplace-and-ebay", // href:"https://kalkinemedia.com/podcast/kalkine_weekly", }, function(response){ console.log(response); // Script after Sharing }); }); }); }if(type == 'instagram'){ window.open(instagram,'facebook-share-dialog',"width=626, height=436"); } if(type == 'twitter'){ window.open(twitter,'facebook-share-dialog',"width=626, height=436"); } if(type == 'linkedin'){ window.open(linkedin,'facebook-share-dialog',"width=626, height=436"); } }

Source link

Denial of responsibility! galaxyconcerns is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.

Leave A Reply

Your email address will not be published.