A new type of smart contracts has already undergone successful beta testing on the NFT marketplace KnownOrigin and is preparing for release. Users deployed 84 smart contracts and minted 250 NFTs during testing.
The NFT platform KnownOrigin, which is owned by eBay, has successfully tested and is launching smart contracts that allow users to earn royalties and share revenue as co-creators. The public release of Creator Contract is scheduled for February 24. Creating contracts requires no specific knowledge; the entire process is done through the platform’s interface.
eBay acquired KnownOrigin in June 2022 for an undisclosed sum. “This partnership will help us attract a new wave of NFT creators and collectors,” commented David Moore, Co-Founder of KnownOrigin, on the deal. The platform runs on the Ethereum network. It’s known for its exclusive community of NFT artists and creators, as well as a large volume of unique offerings.
eBay began supporting NFT listings on its trading platform in May 2021, but never integrated support for blockchain or crypto payments. All token transactions are done off the platform, using its functionality only for promotion, internal messaging, and emails. What’s interesting is that the eBay and KnownOrigin deal took place at a time when the NFT market was going through a severe downturn.
