EBAY is reconsidering its NFT strategy and has laid off over 30% of its WEB3 team. Stef Jay, the Chief Business and Strategy Officer of the WEB3 division, recently resigned. The relationship between EBAY and the NFT marketplace KnownOrigin, which was acquired in 2022, has deteriorated, and one of the founders, David Moore, has also been laid off. EBAY has suspended all digital art initiatives, citing dissatisfaction with the lack of leadership and strategy internally.

Wu learned that according to nftgators, eBay is reconsidering its NFT strategy and has laid off over 30% of its Web3 team. Stef Jay, the Chief Business and Strategy Officer of the Web3 department, recently resigned. The relationship between eBay and the NFT marketplace KnownOrigin, which was acquired in 2022, has deteriorated, and one of the founders of KnownOrigin, David Moore, has also been "let go". eBay has suspended all digital art initiatives, citing dissatisfaction with the lack of leadership and strategy internally.

EBAY Reconsiders NFT Strategy and Cuts WEB3 Team