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HomeCryptoNfteBay reportedly laid off employees at NFT market KnownOrigin it acquired in...

eBay reportedly laid off employees at NFT market KnownOrigin it acquired in 2022

E-commerce large eBay is claimed to have reduce 30% of employees at NFT market KnownOrigin.

Because the NFT frenzy has cooled off, those that jumped on the bandwagon are actually coping with the implications. Ebay has reportedly fired employees at KnownOrigin, an NFT market it acquired in 2022, NFTGators has discovered, citing individuals near the matter.

Based on the sources, eBay has fired its enterprise and technique officer Stefanie (Stef) Jay, who was appointed for the function in Might 2021. KnownOrigin co-founder David Moore has reportedly additionally “been made redundant. With the most recent transfer, eBay has halted all plans for digital artwork as “many throughout the firm are sad, blaming the dearth of management and technique for the layoffs,” the supply added.

eBay reportedly laid off staff at NFT marketplace KnownOrigin it acquired in 2022 - 1

Inner communications at KnownOrigin | Supply: NFTGators

You may additionally like: Autoglyphs set acquired for $14.6m in largest NFT sale since 2022

In what appears to be an inside communication that was disclosed within the report, Moore expressed that witnessing the extent of layoffs throughout the staff “was brutal.” As of press time, eBay made no public bulletins on the matter.

The e-commerce large acquired KnownOrigin in July 2022 for an undisclosed value. On the time, eBay stated the acquisition was an “vital step” in its “tech-led reimagination.” A number of months after shopping for KnownOrigin, eBay acquired one other market for collectible card recreation fanatics known as TCGplayer for practically $300 million.

Learn extra: Pantera Capital-backed NFT lending startup Arcade to airdrop 3m ARCD tokens

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