The Rise of KnownOrigin and Its Acquisition by eBay

In an exciting turn within the digital art community, KnownOrigin, an NFT marketplace that has been shaking up the crypto art scene, was acquired by eBay back in June 2022. This strategic move has opened new avenues for artists and collectors alike, blending traditional e-commerce with the rapidly evolving world of blockchain technology. KnownOrigin’s co-founder, David Moore, boldly stated that their mission is to empower creators by allowing them to showcase and sell unique digital items. Buckle up, because things are about to get even more interesting!

The Launch of Creator Smart Contracts

Fast forward to February 2023, and KnownOrigin is ready to take its role as a catalyst for change to the next level. On February 16, they officially announced their Creator Smart Contracts, set to launch on February 24. This feature will allow approved artists to deploy and mint their work directly, tackling the complex world of NFT creation without the need for technical know-how. Sounds too good to be true? Well, don’t worry, because it’s as real as those tacos you’re trying to resist after midnight!

How the Contracts Work

With these smart contracts, artists can now split earnings and earn royalties as co-creators. The functionality empowers artists by allowing them to collaborate on digital pieces while ensuring everyone gets their fair share. As of the announcement, 84 contracts have already been deployed, with 250 editions of NFTs minted during the beta phase. We’re witnessing a revolution where collaboration leads to cash flow!

Navigating eBay’s Relationship with NFTs

While eBay has enabled NFT listings since May 2021, it’s important to clarify that they haven’t fully embraced all the capabilities of blockchain just yet. Currently, they haven’t implemented direct crypto transactions or blockchain-supported transfers, making them a bit behind the curve. During a past airdrop, users had to rely on the traditional methods of in-platform messaging or email to snag their NFTs. Talk about taking a trip down memory lane!

No Cryptocurrency Transactions—Yet!

For fans of cryptocurrency, eBay’s reluctance to incorporate crypto as a payment tool for NFT transactions might feel like a grape that you can’t reach at the grocery store, tantalizingly out of reach. But fear not; they still invite users to explore NFT listings within the parameters of their existing payment systems. Who knows? A blockchain revolution could be just around the corner!

KnownOrigin’s Community and Popular Collections

Originating in 2020, KnownOrigin quickly established a cozy yet dynamic community of NFT creators and collectors. The spotlight shines on their most popular collection, crafted by the genius XCOPY, which includes bold, vibrant, digitally altered pieces. With a staggering 1,523.78 Ether ($2.56 million) in sales, it’s no wonder collectors are lining up to snag an edition!

A Fresh Start for Artists

As the February 24 launch approaches, all approved creators will be able to mint work using their contracts. This is where the real fun begins—imagine all the creativity and potential for collaboration brewing in our digital cauldron. And contrary to standing in line for a rollercoaster, deploying your NFTs won’t require any coding knowledge. It’s as easy as ordering a pizza on a Friday night! So gear up, creators!