OpenSea Lays Off Half its Staff as NFT Market Slumps, Pivots to OpenSea 2.0
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OpenSea, a major NFT marketplace, has laid off around 50% of its staff as NFT prices continue falling.
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The job cuts come as OpenSea prepares to launch a revamped marketplace called OpenSea 2.0.
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OpenSea previously laid off 20% of its staff in July 2022.
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The layoffs leave OpenSea with a smaller team to build a new foundation and innovate faster.
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Details about OpenSea 2.0's product offerings and timeline are unclear.