Ethereum News Daily Official TheBitTimes.com

American multinational e-commerce company eBay has reportedly laid off 30% of its staff from its NFT (non-fungible token) marketplace and Web3 division. According to a source close to the matter, Stef Jay, the company’s business and strategy officer, has resigned. The e-commerce giant stepped into the Web3 realm by acquiring KnownOrigin, a UK-based NFT marketplace, in June 2022. The NFT marketplace’s team and IP became a part of eBay ’s Web3 division. Also Read: How to Link eBay to Shopify Store?  A few months after the KnownOrigin acquisition, the e-commerce firm purchased the trading card marketplace TCGplayer for $295 million. However, despite its massive entry into NFTs and Web3, the company seems to be changing direction. Will eBay exit the NFT and Web3 market? Source: Forbes According to reports, the relationship between the e-commerce giant and KnownOrigin did not go in the right direction. According to a source, ‘ Many within the com...

The creator contract beta release has been tested by users, with 84 contracts deployed and 250 NFTs minted so far. According to a new twitter post on Feb. 16, e-commerce platform eBay's nonfungible tokens (NFT) marketplace KnownOrigin will launch creator smart contracts for its artists. With the new contract, artists will be able to split earnings and earn royalties as co-creators. As told by KnownOrigin, users have been testing its Creator Contract beta release for the past few weeks, with 84 contracts thus far deployed and 250 edition of NFTs minted. From Feb. 24 onwards, all approved creators on KnownOrigin will be able to deploy and mint work on their own contract for public release. Deployment will not require coding knowledge. Last June, KnownOrigin was acquired by eBay for an undisclosed sum. According to its co-founder David Moore, the Ethereum (ETH) based platform seeks to "empower creator s and collectors by giving them the ability to showcase, sell and collect uni...