EBay Acquires Leading NFT Market KnownOrigin

This acquisition is a vital step in eBay’s tech-led reimagination, ushering in a new period of digital collecting to the world’s top destination for collectibles. KnownOrigin, which was founded in 2018 in Manchester, UK, enables artists and collectors to create, purchase and resell NFTs through blockchain-assist transactions. Since its founding,KnownOrigin has seen significant growth as it has revolutionized the best way individuals create, buy, and promote NFTs.

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A "payment channel" is a smart-contract that allows two users to ship funds to each other off-chain, thus saving cash (transaction fees) and time (they don’t must look forward to a block to be issued). This fashion, the payments might be as small and frequent as wanted, and the customers still don't need to trust each other, as the ultimate settlement is guaranteed by the smart-contract.