Tag: ebay

eBay Could Be Considering Exiting NFT Sector, Reportedly Trims Web3 Team

eBay, the US-based ecommerce giant, is reportedly planning to bow out of the NFT space. As per reports, the platform has trimmed its Web3 team by 30 percent this week. While not a lot is known about eBay’s reported decision, some drama seems to have unfolded between eBay and the NFT marketplace KnownOrigin that it acquired in 2022. During the acquisition at the time, eBay was looking at establishing itself as a notable player in the NFT arena.

In the past few weeks, some senior officials from eBay tendered their resignations. Stef Jay, eBay’s business and strategy officer and one of KnownOrigin founders, David Moore – both have not been actively associated with the company for some weeks, as per a report by CoinGape.

After acquiring KnownOrigin, eBay absorbed the team running the NFT marketplace. The plan was to expand and build on partnerships that were already working with KnownOrigin. In the last eighteen months since the acquisition however, tensions between the eBay team and the KnownOrigin team reportedly rose. The information was disclosed in a report published by NFTGators, citing an anonymous source familiar with the matter.

“Many within the company are unhappy, blaming the lack of leadership and strategy for the layoffs. There are internal criticisms, even at senior levels, questioning the qualifications of the current head of Web3 as well as eBay’s strategy team,” the report quoted the source as saying.

In what seems like an internal communication, Moore informed his teammates that he has been impacted by the latest round of proposed redundancies in the company.

“Witnessing that level of layoffs within the team was brutal,” Moore said in his message – a screenshot of which has been published as part of the report by the NFTGators.
As of now, eBay has not addressed the situation. It remains unclear if these layoffs by eBay are part of an internal restructuring. Afterall, the overall NFT market recorded an all-time low in sales in 2023.

The sales of NFTs peaked in September 2021 when sales of these digital collectibles managed to amass around $881 million (roughly Rs. 7,344 crore). However, as of November 2023, NFT sales only managed to bring-in $10.85 million (roughly Rs. 90 crore).

Members of the KnownOrigin team have also not addressed the situation on any public domain as of now. eBay is planning to lay off a thousand more employees. This information was circulated to the eBay team by CEO Jamie Iannone in January.

“The most significant and toughest of these decisions is to reduce our current workforce by approximately 1,000 roles or an estimated nine percent of full-time employees. Additionally, we plan to scale back the number of contracts we have within our alternate workforce over the coming months,” the official note had said at the time.

Affiliate links may be automatically generated – see our ethics statement for details.

Check out our Latest News and Follow us at Facebook

Original Source

Rabbi Joel Teitelbaum’s socks sell for $18K on eBay

Consider investing in the sock market.

Two pairs of three-foot-long white socks worn by a revered leader in the Hasidic Jewish community brought in a haul of nearly $18,000 on eBay this week. 

After an opening price of just 99 cents, socks worn by the late Grand Rabbi Joel Teitelbaum, the founder of the Satmar sect, sold for an impressive $11,600 on Sunday, after 88 bids. 

Those amazing feet were followed by a second auction for another pair of Teitelbaum’s hose, which sold on Tuesday for $6,200 with 43 bids. 

“Pair of long, white socks used by Rebbe Yoel Teitelbaum of Satmar,” the listing read. “Approx. 95 cm. Good condition. Stains.”

Teitelbaum died in 1979, and his stockings were handed down to his aide, Rabbi Mendel Greenberg, who subsequently gave them to Rabbi Leib Friedman of Lakewood, NJ, according to the listing.


Teitelbaum founded the Satmar sect of Hasidic Judaism. eBay

A letter signed by Friedman confirmed the garments’ authenticity.

“There’s a lot of people buying stuff because . . . an item that a rabbi wore has something holy in it,” said David Knobloch, who runs Rarity Auction House in Spring Valley, NY, and handled the recent sales.

Many members of the Hasidic community splurge on prayer books and garments previously used by rabbinical leaders, which they might bust out on the high holidays or when attending weddings. 


White stockings that once belonged to Rabbi Joel Teitelbaum
One pair of Teitelbaum’s socks fetched an impressive $11,600 after 88 bids. Courtesy of David Knobloch

“They won’t wear it on a regular Monday … they’ll use it for special occasions,” said Brooklyn-based Judaica collector Israel Clapman, 37. 

“In the Hasidic community, they’re not buying Ferraris or Bentleys, so rare Judaica is their way of flashing bling, of throwing money around.” 

Check out our Latest News and Follow us at Facebook

Original Source

Fake Kanye West ‘White Lives Matter’ shirts selling on eBay

Jesus hawks?

Online opportunists are cashing in on controversy by hawking fake versions of Kanye West’s now-notorious “White Lives Matter” shirts. The counterfeit couture falsely labeled as designed by Kanye is spreading across eBay like wildfire despite the fact that Ye hasn’t put his panned collection on sale yet.

Indeed, typing in “Kanye Style All Lives Matter” in the online bazaar will bring up multiple knockoffs of the “White Lives Matter” shirt, which notably sparked outrage at Paris Fashion Week in France earlier this week. The 45-year-old rapper, along with several models, had donned them while staging a surprise Yeezy Fashion Show that showcased his season 9 clothing line.

Just like the original tees, the long-sleeved bootlegs are emblazoned with the pot-stirring “WLM” slogan, which has been denounced by the Anti-Defamation League since white supremacists had created to mock the “Black Lives Matter” organization.

The counterfeit couture falsely labeled as designed by Kanye is spreading across eBay like wildfire despite the fact that Ye hasn’t put his panned collection on sale yet.
eBay
Kanye West and Candace Owens sport “White Lives Matter” shirts at Paris Fashion Week.
Twitter/Candace Owens

However, the ripoffs possess a few notable differences from West’s initial design, including the fact that they don’t bear an image of Pope John Paul II on the front. They also only cost between $20-$30 per shirt — a bargain considering that Yeezy’s merch generally goes for hundreds or more, TMZ reported.

Interestingly, bonafide versions of the “White Lives Matter” tees are currently unavailable and West hasn’t divulged whether he’ll be hawking the authentic shirts in the future.

The bootleg deluge comes as the Grammy winner faces backlash over the inflammatory fashion statement from multiple notable people of color. Critics included Temple University Professor Marc Lamont Hill, Vogue Fashion Editor Gabriella Karefa-Johnson and Jaden Smith, son of Will and Jada Pinkett Smith, who allegedly left the fashion show in protest.

The ripoffs possess a few notable differences from West’s initial design, including the fact that they don’t bear an image of Pope John Paul II on the front.
eBay

“I Had To Dip Lol,” tweeted the “Karate Kid” star following the alleged walkout. He continued his criticism in a series of follow-up tweets: “True Leaders Lead. I Don’t Care Who’s It Is If I Don’t Feel The Message I’m Out. Black Lives Matter. We Demand A More Progressive Future

West has since defended the designs in a Wednesday Instagram post. “Here’s my latest response when people ask me why I made a tee that says white lives matter… THEY DO,” the embattled rapper captioned a photo of a black, long-sleeved version of the garment spread out on the floor. 

West has been ripped by multiple celebs over his controversial fashion statement.
AFP via Getty Images

Prior to that, the “Jesus Walks” singer had also taken potshots at the “Black Lives Matter” organization.

“Everyone knows that Black Lives Matter was a scam,” West declared in a Tuesday Instagram story, seemingly referencing the group’s multiple multimillion-dollar scandals. “Now it’s over You’re welcome.”



Check out our Latest News and Follow us at Facebook

Original Source

Exit mobile version