OpenSea Lays Off Half of Staff, Then Execs Retreat to $9M Mansion
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OpenSea laid off 50% of staff just days before executives met at a $9M mansion owned by Katy Perry for a company retreat.
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CEO Devin Finzer announced the layoffs suddenly on a Zoom call, immediately locking many employees out of systems.
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Finzer took around 50 remaining employees to the LA mansion retreat to plan OpenSea 2.0 amid declining NFT trading volume.
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Details of OpenSea 2.0 remain vague, involving rebuilding infrastructure and "delighting" users.
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The mansion rental cost is undisclosed but was called more cost-effective than a conference center for the week-long retreat.