eBay buys TCGplayer for $295 million two months after acquiring NFT Marketplace KnownOrigin
Quick take:
- eBay buys collectibles marketplace TCGplayer for $295 million.
- The online retail giant recently acquired NFT marketplace KnownOrigin in one of its biggest plays on Web3.
- TCGplayer’s acquisition can be interpreted as an attempt by eBay to create more growth verticals for its web3 strategy.
eBay acquires leading trading card marketplace TCGplayer for $295 million. The online store giant’s latest acquisition comes hot on the heels of its purchase of NFT marketplace KnownOrigin in June.
Although eBay and TCGplayer did not disclose whether the acquisition is related to the company’s web3 strategy, the fact that TCGplayer is a collectibles marketplace draws close similarities to what eBay is trying to do.
Partnerships between trading card marketplaces and web3 projects are common in the new era of NFTs. Earlier this year, Mattel Creations teamed up with Gary Vaynerchuk to launch an NFT-based trading card game VeeFriends Uno Deck.
Uno is a popular American card game played with a specially printed deck of cards. On the other hand, VeeFriends is a collection of NFT tokens created by Gary Vaynerchuk, which has accumulated a transaction volume of 56.5k ETH over time.
The Web3 site has attracted several blockchain game types, with some of them like Splinterlands inspired by trading card games.
eBay said on Monday that the acquisition demonstrates its commitment to fans of trading cards, an area of the gaming market that has seen significant traction in the market recently.
According to the announcement, TCGplayer will continue to operate independently after the acquisition.
“eBay continues to build on our 26 years of experience in trading cards, empowering local hobby shops and Main Street retailers to deliver an online destination that collectors love,” said Dawn Block, vice president of collectibles at eBay, in a press release. “eBay has always driven our customers’ passion in this space and facilitated connections between buyers and sellers, and with TCGplayer we can improve the customer experience across categories, forge even more relationships and cater to enthusiasts around the world.”
While eBay’s trading card offerings are not new to the platform, the acquisition means an increased focus on the industry as web3 companies continue to launch competing products.
TCGplayer believes that eBay’s industry experience as an e-commerce marketplace will give it a better chance to quickly adapt to online marketplaces, having started as a hobby store in 2008.
TCGplayer’s founder and CEO Chedy Hampson commented, “With eBay’s support, we will further our cause, expanding our tools and services to enhance the collecting experience online and at your favorite local hobby shop.”
eBay may just be interested in showing commitment to its loyal trading card customers. But given the company’s acquisition of KnownOrigin two months ago, as well as the growing relationship between trading card marketplaces and NFTs, there will be many out there drawing the same conclusions about the web3 strategy. Only time will tell.
Keep yourself updated:
