OpenSea Lays Off Half its Staff to Build Leaner, More Nimble Web3 Company
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OpenSea, the leading NFT marketplace, laid off about 50% of its staff to build a "more nimble" company.
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CEO Devin Finzer said the layoffs will help OpenSea innovate faster on "OpenSea 2.0", a major product upgrade.
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Employees will get 4 months severance pay, 6 months healthcare, accelerated equity vesting.
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OpenSea fell behind rival Blur in trading volume as NFT market cooled down in 2022.
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This is OpenSea's second round of layoffs in 2022 amid the crypto winter and weak NFT market.