Word has it that the giant of e-commerce, eBay, has downsized its workforce at KnownOrigin, an Ethereum-based NFT exchange it acquired in June 2022. The cuts involve 30% of positions, including key figures like strategy and business lead Stefanie Jay and founding member David Moore.

Moore described the layoffs as “severe,” noting that witnessing such reductions was tough. eBay has remained silent on these changes. Amid Ethereum’s 9.41% increase this week and KnownOrigin’s success in selling over 75,000 NFTs from renowned artists like X Copy and Sabet, this news is unexpected.

eBay ventured into digital collectibles by acquiring KnownOrigin, a pivotal move in its digital evolution. Post-KnownOrigin acquisition, eBay expanded further by acquiring TCGplayer, a platform for trading card enthusiasts, and collaborating with OneOf to launch exclusive NFTs featuring Wayne Gretzky.

The recent layoffs at KnownOrigin have sparked speculation about eBay’s digital collectible commitment, raising questions about its NFT strategy.