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eBay Fires Staff of NFT Marketplace KnownOrigin in Recent Layoffs, Plans to Dismiss 1,000 Employees

According to reports, American multinational e-commerce giant eBay Inc (NASDAQ: EBAY) has reportedly initiated layoffs affecting several members of staff at NFT marketplace KnownOrigin. A source familiar with the matter told NFTgators that many of the staff handling Web3 operations at KnownOrigin have left.

eBay acquired the Manchester-based NFT marketplace in June 2022 to immerse itself in the then-growing world of NFTs and digital collectibles. At the time of the acquisition, KnownOrigin had generated over $30 million within a year and recorded a tenfold increase in the number of creators and collectors. Per the acquisition, KnownOrigin’s intellectual property and its team joined eBay’s Web3 division, extending an existing partnership with music NFT company OneOf. eBay continued expanding its reach into NFTs after the KnownOrigin acquisition by License.

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