eBay's KnownOrigin Launches Creator Smart Contracts for NFTs

New Opportunities for NFT Artists

eBay's NFT marketplace, KnownOrigin, is set to revolutionize the way artists earn and collaborate. By launching creator smart contracts, artists now have the ability to split earnings and earn royalties as co-creators. This initiative aims to empower artists by giving them more control and financial benefits over their digital creations.

Creator Contract Testing and Launch

The Creator Contract beta release has been tested by users over the past few weeks, resulting in 84 contracts deployed and 250 editions of NFTs minted. From February 24 onwards, all approved creators on KnownOrigin will be able to deploy and mint their work using their own contracts. This process is user-friendly and does not require any coding knowledge, making it accessible to a wide range of artists.

eBay’s Acquisition and Vision

KnownOrigin, acquired by eBay in June, is built on the Ethereum blockchain. The platform's co-founder, David Moore, emphasizes its mission to empower creators and collectors. KnownOrigin facilitates the showcasing, selling, and collecting of unique and authenticated digital items. This acquisition aligns with eBay's strategy to expand its presence in the digital asset market and support the growing NFT ecosystem.

Impact on the NFT Market

The introduction of creator smart contracts by KnownOrigin represents a significant advancement in the NFT space. Artists can now collaborate more effectively and benefit from ongoing royalties, thereby enhancing their revenue streams. This move is likely to attract more artists to the platform, further bolstering the NFT market’s growth and diversification.

By leveraging these innovative contracts, KnownOrigin is positioned to become a leading platform for digital artists seeking to maximize their creative potential and financial returns.