eBay Reportedly Lays Off Staff from NFT Market and Web3: Rethinking Strategy?

American multinational e-commerce company eBay has reportedly laid off 30% of its staff from its NFT (non-fungible token) marketplace and Web3 division. Latest reports in the town suggest that e-commerce giant eBay is planning to exit the NFT market within two years of acquiring Manchester-based NFT Marketplace KnownOrigin. This significant staff reduction reportedly affected 30% of the headcount in the Web3 team.

According to an initial report from NFT, eBay is rethinking its NFT and Web3 strategy after reportedly laying off over 30% of its Web3 division staff. The layoffs affected staff responsible for the NFT marketplace acquired in 2022. E-commerce giant eBay is planning to leave the NFT market within two years of obtaining the Manchester-based NFT marketplace and has separated its staff.

A source close to eBay, an American multinational e-commerce company based in California, has reported that close to 30% of its Web3 team has been laid off, according to a report. It seems that the firm is re-evaluating its commitment to the space. E-commerce firm eBay may be rethinking its NFT and Web3 strategy after reportedly laying off over 30% of its Web3 division staff.

The staff reduction reportedly affected 30% of the headcount, raising questions about the future of eBay's involvement in NFTs and Web3. E-commerce giant eBay has reportedly laid off over 30% of its staff in the Web3 division, leading to speculation that the company may be rethinking its NFT and Web3 strategy.

The future of eBay's Web3 and NFT initiatives remains uncertain following the reported layoffs. Stay tuned for updates on this developing story.