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{"id":8502,"date":"2022-06-23T14:38:30","date_gmt":"2022-06-23T14:38:30","guid":{"rendered":"https:\/\/scienceandnerds.com\/2022\/06\/23\/ebay-now-has-an-established-nft-marketplace-at-its-bidding\/"},"modified":"2022-06-23T14:38:31","modified_gmt":"2022-06-23T14:38:31","slug":"ebay-now-has-an-established-nft-marketplace-at-its-bidding","status":"publish","type":"post","link":"https:\/\/scienceandnerds.com\/2022\/06\/23\/ebay-now-has-an-established-nft-marketplace-at-its-bidding\/","title":{"rendered":"eBay now has an established NFT marketplace at its bidding"},"content":{"rendered":"

Source: https:\/\/www.theverge.com\/2022\/6\/22\/23178699\/ebay-acquires-knownorigin-nft-marketplace<\/a>
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eBay made its biggest move yet into the world of digital collectibles with news today of the company acquiring NFT marketplace KnownOrigin<\/a>. The online auction company is keeping lips sealed on the deal\u2019s value but confirmed in the press release that the deal is closed as of June 21st.<\/p>\n

\u201cThis partnership will help us attract a new wave of NFT creators and collectors,\u201d said KnownOrigin co-founder David Moore.<\/p>\n

KnownOrigin describes itself as \u201cone the world\u2019s first, and largest, NFT Marketplaces,\u201d and it currently ranks No. 12 on all-time trading volume for Ethereum-backed NFTs at $7.8 million, according to DappRadar<\/em><\/a>. Higher ranked, more popular marketplaces include OpenSea (No. 1) with an all-time trading value at $30.43 billion and Decentraland (No. 8) at $155.66 million.<\/p>\n

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\n <\/p>\n

<\/p>\n\"\"<\/p>\n

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<\/span><\/p>\n

NFTs like this currently look like a regular eBay listing, and the seller has to explain in the body what digital wallet you need to buy it.<\/em><\/figcaption><\/span><\/p>\n<\/figure>\n<\/div>\n

eBay started allowing NFT sales<\/a> on its site last year. With the KnownOrigin acquisition, eBay has the opportunity to control a proper digital marketplace where NFT transactions can be both monitored and controlled \u2014 not just offered with the fingers-crossed hope the seller transfers an NFT to the buyer\u2019s wallet correctly.<\/p>\n

Currently, approved sellers on eBay can list NFTs in the same format as a physical item, and many listings today share the details of the NFT mint number and what digital wallet the buyer will need to receive the transfer post-sale. eBay\u2019s current NFT sales method also comes with some caveats<\/a>, such as a $10,000 maximum, a buy it now model (no bidding or best offers), and a requirement that the buyer and seller be in the same country. NFTs also can\u2019t be sold alongside a physical item.<\/p>\n

That last caveat of not being able to attach a physical item to an NFT sale is most intriguing, as, earlier this month, eBay opened a new real-world vault to protect physical collectibles<\/a>, with the option of allowing instant digital sales of the items without ever shipping them out. eBay declined to comment on whether there will be any integration between physical collectibles in the vault and NFTs in the future.<\/p>\n

eBay has been pushing its collectibles business hard in the last year, expanding its authenticity guarantee<\/a> to make sure trading cards sold on eBay aren\u2019t fake and launching live auctions<\/a> to showcase even more collectible items. Collectible item sales are at an all-time high coming out of the pandemic, and eBay is taking the opportunity to cover both digital and physical assets with the KnownOrigin acquisition and the eBay Vault \u2014 which, as of writing, is still not a place<\/em> NFTs are eligible to be stored.<\/p>\n<\/div>\n


<\/br><\/code><\/p>\n

Source: https:\/\/www.theverge.com\/2022\/6\/22\/23178699\/ebay-acquires-knownorigin-nft-marketplace<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Source: eBay made its biggest move yet into the world of digital collectibles with news today of the company acquiring NFT marketplace KnownOrigin. The online auction company is keeping lips sealed on the deal\u2019s value but confirmed in the press release that the deal is closed as of June 21st. \u201cThis partnership will help us […]<\/p>\n","protected":false},"author":1,"featured_media":8503,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"pagelayer_contact_templates":[],"_pagelayer_content":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[49,8],"tags":[50],"class_list":["post-8502","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-technology","tag-business"],"yoast_head":"\neBay now has an established NFT marketplace at its bidding - Science and Nerds<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/scienceandnerds.com\/2022\/06\/23\/ebay-now-has-an-established-nft-marketplace-at-its-bidding\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"eBay now has an established NFT marketplace at its bidding - Science and Nerds\" \/>\n<meta property=\"og:description\" content=\"Source: eBay made its biggest move yet into the world of digital collectibles with news today of the company acquiring NFT marketplace KnownOrigin. 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