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eBay Lays Off 30% Staff from the Web3 Team

eBay, an American multinational e-commerce company based in California, has laid off close to 30% of its Web3 team, according to a report, and it seems that the firm is now rethinking its strategy when it comes to non-fungible tokens (NFTs).  According to a report, a source with knowledge of the matter stated that eBay has laid off a significant portion of its Web3 team and is now changing its strategy when it comes to NFTs and Web3. The source confirmed that many people tied to the NFT division have left the e-commerce marketplace. eBay invested heavily in the NFT sector, purchasing KnownOrigin, a deal that saw the NFT marketplace’s team and IP become part of the e-commerce firm’s Web3 division.

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