As the NFT bubble collapsed, so did some of the larger projects or bets that once gained traction thanks to non-fungible tokens. In this context, the OpenSea platform, an important reference in the market, announced that it has made a significant cut in its staff.

Advert He did this through X own CEO, Devin FinzerA few hours ago he published a comprehensive thread describing the “significant changes” the company is undertaking for the launch of its next version, moving towards what the executive is currently calling “OpenSea 2.0.” Yes, the company decided to take steps that will directly affect the Human Resources field in this process.

“We are building a new foundation to innovate faster […]. “We will change the way we work: we will move to a smaller team with a direct connection to users.” Finzer points out.: “Today we said goodbye to a few of our teammates. the hardest part to change”.

The manager doesn’t go any further or specify how much the OpenSea team will lose, but Decrypt, Cointelegraph, and The Information note that the outage will be quite large, around 100,000. 50% of your staff. That’s what three media outlets pointed out, citing a spokesperson for the NFT marketplace startup who never specified how many jobs that percentage would translate into.

“We are making significant organizational and operational changes as we focus on building a more agile and ultimately better version of OpenSea,” the spokesperson emphasizes. “With these changes, we are better positioned to serve the community.” The announcement comes just five years after the launch of OpenSea, a New York-based NFT marketplace that has managed to become an important reference in the industry over the years.

At the beginning of 2022, the NFT market reached a valuation of approximately $ 13.3 billion, but as Decrypt recalls, it began to lose its strength months later. But it still remains a major player in the industry: Dune data shows it added more than 32,000 unique wallets between the standard and Pro markets last week, but Blur has retained a significant market share of over 70%.

This isn’t the first time the company has had to adjust its workforce. According to data provided by the company itself, around 20% of its staff were laid off in July last year. 230 employees.

“We have entered the mix of an unprecedented crypto winter and broad macroeconomic instability, and we need to prepare the company for the possibility of a prolonged recession,” Finzer said at the time.

Cover photo: Ajay_suresh (Flickr)

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