eBay allegedly downsizes workforce at KnownOrigin, the NFT marketplace it acquired in 2022.

E-commerce titan eBay has reportedly laid off 30% of its staff at NFT marketplace KnownOrigin as the NFT craze cools down. According to sources close to the matter, eBay has terminated its business and strategy officer Stefanie Jay, who assumed the role in May 2021. In addition, KnownOrigin co-founder David Moore has been let go. This move has halted all digital art plans for eBay, with many blaming the lack of leadership and strategy for the layoffs. Moore expressed his shock at the extent of the layoffs in an internal communication. eBay acquired KnownOrigin in July 2022 as part of its tech-led reimagination. The company had previously acquired another marketplace called TCGplayer for around $300 million. eBay has not made any public announcements regarding these staff cuts.