OpenSea lays off 50% of its staff and will reposition the team around "OpenSea 2.0"

2023-11-04 08:06:57
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ChainCatcher news, according to Decrypt, the NFT marketplace OpenSea confirmed on Friday that it has laid off about half of its employees.

OpenSea co-founder and CEO Devin Finzer stated on social media: "We are repositioning the team around 'OpenSea 2.0', which is a major upgrade to our product, including foundational technology, reliability, speed, quality, and experience. We will change the way we operate, moving to smaller teams that connect directly with users."

A spokesperson added that OpenSea will adopt a flatter organizational structure. Affected employees will receive 4 months of severance pay, 6 months of healthcare and mental health services, and accelerated equity vesting.

Previously, due to the crypto winter and macroeconomic instability, OpenSea had laid off 20% of its workforce last July.

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