In early 2024, eBay, the e-commerce giant, laid off approximately 30% of the staff at KnownOrigin, an NFT marketplace it acquired in 2022. The layoffs, which affected key personnel including the business and strategy officer and a co-founder, were part of a broader halt to digital art initiatives. This restructuring reflects the cooling NFT market and internal criticisms over leadership and strategy, signaling a significant pullback from eBay's foray into the digital collectibles space within the broader blockchain and crypto industry.
