NFT Marketplace OpenSea to Reduce Workforce as it is Planning “Big Changes”
Leading non-fungible token (NFT) marketplace OpenSea, unveiled plans to lay off half its workforce, amid the company’s major restructuring plans.
The platform’s CEO Devin Finzer wrote on X (Twitter) that the firm is making “big changes” to focus on a new version – OpenSea 2.0.
1/9
OpenSea is making some big changes today to focus on the next version of our product.
— Devin Finzer (dfinzer.eth) (@dfinzer) November 3, 2023
He said that the company is “shifting to a smaller team”, as it is building a new foundation. “So today, we’re saying goodbye to a number of OpenSea teammates.”
6/9
We’re building a new foundation so we can innovate faster and we’ll have some experiences to share with you soon. We will change how we operate – shifting to a smaller team with a direct connection to users.
So today, we’re saying goodbye to a number of OpenSea teammates.
— Devin Finzer (dfinzer.eth) (@dfinzer) November 3, 2023
Finzer thanked affected OpenSea employees adding that such changes are “never easy.” He added that the company is making these changes with the community in mind.
“We’re incredibly thankful to those teammates that are departing today and grateful for the OpenSea community for their continued support.”
Finzer said that the company redirection comes following feedback from users. The company feels “like a follower, not a leader,” he added.
“And that’s not who we want to be. We want to move with speed, quality, and conviction to make more meaningful bets.”
As a result, OpenSea re-oriented the team to align with the next big product upgrade to OpenSea 2.0.
A company spokesperson noted that affected employees would receive benefits. These include accelerated timetable for equity vesting, four months of severance pay, and six months of
Read more on cryptonews.com
