By
Chimamanda U. Martha
April 17th, 2024
The new Creators Smart Contracts will allow artists to split their earnings and earn royalties as co-creators.
On Thursday, February 16, KnowOrigin – the non-fungible tokens (NFT) marketplace owned by eBay announced the launch of smart contracts for its artists.
Next week from February 24, all the approved creators on KnowOrigin will be able to deploy and mint work through their smart contracts. Besides, the new contracts will allow artists to split their earnings and earn royalties as co-creators.
KnowOrigin noted that they have been testing the Creator Contract beta release over the last few weeks. To date, 84 contracts have been deployed on the platform, and more than 250 editions minted. Besides, KnowOrigin also announced its partnership with Deadfellaz. It noted:
“As part of our exciting release, we’ve partnered with @Deadfellaz to release ‘Draw The Undead Season 2’, comprised of official derivative pieces. These are live on KnownOrigin from today and will be able to purchase from the 24th of February.”
E-commerce giant eBay acquired KnowOrigin last year in June 2022 for an undisclosed amount. David Moore, the co-founder of KnowOrigin noted that the Ethereum-based platform seeks to “empower creators and collectors by giving them the ability to showcase, sell and collect unique, authenticated digital items”.
NFTs, eBay and KnowOrigin
E-commerce platform eBay started the direct listing of NFTs on its platform in May 2021. However, the company hasn’t integrated blockchain technology in order to support any transfers or crypto-based sales on its platform.
KnowOrigin conducted an airdrop in May 2022 wherein it requested users to use email or in-platform messaging in order to receive their NFTs outside of the platform.
Founded three years back in 2022, KnowOrigin positioned itself as a dedicated, boutique community of NFT artists and creators. XCOPY’s NFT collection is currently the most popular collection on the platform with 27 editions and 559 sales.
This NFT collection is popular for “digitally glitched” and flashing image artworks. Besides, the collection has also surpassed $2.56 million in total sales volume.
This piece is minted using KnownOrigin Creator Contracts, making use of the collaboration feature which will be available to all approved Creators on the 24th Feb!
View the full Collection:https://t.co/Ye0fMlseOZ
— KnownOrigin.io (@KnownOrigin_io) February 16, 2023
Furthermore, eBay is looking to aggressively expand into several different NFT roles and the Web3 space. eBay recently opened up fresh positions for KnowOrigin noting:
“KnownOrigin.io is an early Web3 pioneer, an NFT marketplace empowering a new generation of digital artists to express themselves, find an audience and earn a living from their passion. And they’re looking for like-minded enthusiasts to join them in their venture!”
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