Quick take:
- eBay is buying collectibles marketplace TCGplayer for $295 million.
- The online retail giant recently bought NFT marketplace KnownOrigin in one of its biggest bets on Web3.
- TCGplayer’s acquisition could be interpreted as an attempt by eBay to create more growth verticals for its web3 strategy.
eBay is buying leading trading card marketplace TCGplayer for $295 million. The online retail giant’s latest acquisition comes hot on the heels of its purchase of NFT marketplace KnownOrigin in June.
Although eBay and TCGplayer did not reveal 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 commonplace in the new age 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 shedding-card game played with a specifically printed deck. On the other hand, VeeFriends is a collection of NFT characters created by Gary Vaynerchuk, which has amassed an all-time transaction volume of 56.5k ETH.
The Web3 space has attracted several blockchain game types, with some of them like Splinterlands inspired by trading card games.
eBay said Monday that the acquisition shows its commitment to trading card fans, an area of the gaming market that has recently witnessed huge traction in the market.
According to the announcement, TCGplayer will continue to run independently following the acquisition.
“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,” said Dawn Block, the vice president of Collectibles at eBay, in a press release. “eBay has always fueled our customers’ passion in this space and facilitated connections between buyers and sellers, and with TCGplayer, we can enhance the customer experience across categories, forge even more relationships, and cater to enthusiasts around the world.”
While eBay’s trading card offerings aren’t new to its platform, the acquisition signifies an increased level of 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 of quickly adapting to online marketplaces, having started out as a hobby store in 2008.
TCGplayer founder and CEO Chedy Hampson commented: “With eBay’s support, we will advance our purpose, and expand our tools and services to improve the collecting experience online and in your favourite local hobby store.”
eBay may be only interested in showing commitment to its loyal trading card customers. However, 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 its web3 strategy. Only time will tell.
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