OpenSea reduced staff by 50%

NFT marketplace OpenSea has reduced its staff by 50% ahead of the launch of a new version of the service. This was confirmed by the company's CEO Devin Finzer.

According to him, the project team is working on launching OpenSea 2.0 - a new version of the marketplace. Finzer is confident that this will allow the company to once again take a leading position in the segment.

“So we took a step back and rethought our operating culture, technology and products from the ground up. We have refocused the team on “OpenSea 2.0,” a major update to the platform focused on core technology, reliability, speed, quality and user experience,” he emphasized.

One of the key changes, according to the CEO, will be a radically different operating principle. Among other things, it involves reducing staff and becoming more connected to the community.

Finzer confirmed the information about the layoffs, without specifying details. Decrypt, citing its sources, claims that up to 50% of employees were laid off.

The marketplace has faced many challenges in recent months. The ex-OpenSea manager received three months in prison for insider trading.

Another company employee was accused of involvement in a $60 million fraud. All this happened against the backdrop of a protracted decline in the NFT market. The price of some tokens has fallen hundreds of times or even more.