eBay is reportedly reassessing its approach to NFTs after making significant cuts to its Web3 division. According to NFTgators, more than 30% of the Web3 team has been laid off, including Stef Jay, the business and strategy officer. The relationship between eBay and KnownOrigin, a previously acquired NFT marketplace, has deteriorated, leading to the departure of David Moore, one of Knownorigin’s founders. As a result, eBay has suspended all digital art initiatives.
OpenSea, the king of NFT marketplaces, is prepping for a 2.0 upgrade that promises to be a game-changer. Think concert tickets in your calendar, Solana and Ordinals getting VIP treatment, and a continued love affair with Ethereum and its trusty L2 sidekicks. It’s a bold move, embracing the NFT multiverse while holding true to its roots. Buckle up, NFT enthusiasts, the future of digital collectibles is looking dazzling.
GameStop, the video game retailer often at the center of the crypto and meme stock storm, is pulling the plug on its NFT marketplace. Citing persisting regulatory hurdles in the crypto space, the company plans to shut down the platform supporting Immutable X and Loopring’s gaming NFTs on February 2nd of this year. This move adds another layer of uncertainty to the already volatile world of blockchain-based collectibles.
Binance Labs backs Memecoin, the meme coin by 9GAG’s Web3 venture studio Memeland, which is also Binance’s 39th new launchpool project.
The Ordinals project, pioneering the controversial minting of NFTs directly onto the Bitcoin blockchain, faced its first major hurdle today as a coordinated DDoS attack crippled its website. The attack, aimed at overwhelming the Ordinals infrastructure with junk traffic, caused widespread service disruptions and effectively halted the minting process for new Ordinal NFTs.
Former US President Donald Trump’s team is making a stunning about-face in the world of cryptocurrency, offloading millions of dollars worth of Ethereum (ETH) earned from his controversial NFT collection, the Trump Digital Collectible Cards. This news, revealed by blockchain research firm Arkham, has triggered a wave of speculation about Trump’s true stance on crypto and the future of his NFT venture.