Opensea Cuts 20% of the NFT Markets Staff, Citing Crypto Winter and Macroeconomic Instability – Bitcoin News - BitcoinEthereumNews.com
The largest non-fungible token (NFT) marketplace by trade volume, Opensea, has anounced the company has let 20% of its staff go after CEO Devin Finzer said the layoffs were due to a combination of “crypto winter and broad macroeconomic instability.” Openseas decision follows the startup surpassing $31 billion in all-time NFT sales volume, and the company adding a variety of new support features. Opensea CEO Reveals Company Layoffs Opensea joins the growing list of crypto asset companies anouncing layoffs this year, as the crypto market downturn has affected nearly every aspect of the industry. On July 14, 2022, Devin Finzer, Opensea‘s chief executive officer, समझाया the company had a “hard day,” after it had to let go around 20% of the firm’s workforce. Finzer further shared the note that he wrote to members of the Opensea team before anouncing the layoffs via Twitter. Finzers note to the team says that management had to make an “incredibly sad and difficult decision,” and the statement highlighted the fact that the industry was dealing with a demanding “crypto winter.” Finzer added that Opensea needs “to prepare the company for the possibility of a prolonged downturn.” The CEO explained that the changes will help the company continue