Taking the Momentum Forward, eBay Acquired TCGplayer for $295 Million, Stepping Further into the Web3 Space

eBay acquires TCGplayer, an NFT marketplace, for $295 million. TCGplayer is a leading trading card marketplace, which explains the high acquisition amount.

Aug 23, 2022
by Anvi Saini
Taking the Momentum Forward, eBay Acquired TCGplayer for $295 Million, Stepping Further into the Web3 Space

This comes only a couple of months after buying KnownOrigin for an amount not yet disclosed. With this purchase, eBay is apparently getting ahead in the Web3 space quite aggressively. 

What is eBay Trying to Achieve Here?

This is the third deal eBay has made with existing organizations working in the Web3 space. At first, eBay got into a partnership with OneOf to launch its NFT collection. The second deal includes eBay buying KnownOrigin, and this is the third one. All this is completed in four months. 

eBay does not provide a clear heading or strategy behind this move. The representatives did not share whether this is a part of the company’s Web3 strategy. But this is the case of “when actions speak louder than words.” 

The thing is that such partnerships between big companies and budding organizations have become commonplace. In the past months, Gary Vayernchuck launched a trading card game, VeeFriends Uno Deck, with the help of Mattel Creations. 

VeeFriends also represents an NFT collection. The all-time trading volume of this collection is 56.5k ETH. Besides this, several other blockchain-based trading card games have been launched. 

It’s a Commitment Towards Trading Card Fans

TCGplayer and eBay’s partnership shows the latter’s commitment to the Trading Cards community. As this area is witnessing huge traction, eBay is up for grabs for the profits it will generate in the future. 

Dawn Block, VP of Collectibles at eBay, says, “eBay continues to build on our 26 years of experience in trading cards, powering local hobby stores and Main Street retailers to deliver an online destination that collectors love.”

The VP added, "eBay has always fueled our customers’ passion in this space and facilitated connections between buyers and sellers. With TCGplayer, we can enhance the customer experience across categories, forge even more relationships, and cater to enthusiasts around the world.”On the other hand, TCGplayer CEO shares, “With eBay’s support, we will advance our purpose and expand our tools and services to improve the collecting experience online and in your favorite local hobby store.”

eBay’s experience in building and managing a customer-oriented marketplace will help TCGplayer get higher traction. It can help the latter adapt quickly to online marketplaces across the globe. 

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