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eBay Trims NFT Exchange Staff Amid Rising Market Optimism

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eBay’s Foray into Digital Collectibles

eBay’s most prominent journey into the digital collectibles space is by acquiring KnownOrigin, a move described as a “crucial element of its digital transformation.”

Before, however, in May 2022, the e-commerce giant first explored the NFT world by collaborating with OneOf — an NFT platform linking fans and collectors with top musical artists, athletes, and brands — to launch an exclusive collection of NFTs featuring ice hockey icon Wayne Gretzky, with prices spanning from $10 to $1,500.

In October 2022, it then continued its expansion into the digital collectibles market by purchasing TCGplayer, a platform dedicated to trading card game enthusiasts, in a deal worth nearly $300 million — albeit not on-chain. 

Recent layoffs at KnownOrigin have fueled speculation about the company’s commitment to the digital collectible market, mainly leaving industry watchers questioning its future strategy in the NFT landscape.

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