The transaction price is not disclosed
As one of the first large NFT platforms, KnownOrigin currently ranks at No. 12 ($7.8 million) in historical transaction volume on Ethereum-backed NFT projects, DappRadar noted.
For reference, industry leader OpenSea has $30.43 billion, and eighth-ranked Decentraland has $155.66 million. However, the current NFT transaction process is not much different from ordinary eBay commodity auctions, and the seller must introduce which digital wallet to use for payment in the text.
It is reported that eBay began to allow the sale of NFTs on its own platform last year. Through the acquisition of KnownOrigin, the online auction giant finally has the opportunity to further penetrate the digital commodity market and supervise and control the entire process of the transaction, instead of letting the two parties directly transfer it as before.
Sellers who are currently approved on eBay can display NFTs like physical products, give detailed product descriptions, and specify payment methods, in addition to a buy-out model.
However, in the early days, the platform still set some thresholds, such as a maximum of $10,000, NFTs cannot be bundled with physical goods, and buyers and sellers must be in the same market area.
Interestingly, eBay opened a physical collectibles vault earlier this month and allows for instant sales of digital items without spot delivery. As for what NFT policy changes will be in the future, the company did not immediately respond to a request for comment from foreign media.