Non-fungible token (NFT) marketplace OpenSea announced on November 3 that it was laying off employees. Co-founder and CEO Devin Finzer broken the news on X (formerly Twitter), claiming that the company was launching OpenSea 2.0 with a smaller team.
OpenSea launched in 2017, when NFTs were an innovation. He works on a model comparable to eBay (NASDAQ:) and Etsy (NASDAQ:) and accepts payments in Ether (ETH). He laid off 20% of its employees in July 2022, citing the crypto winter, after which it had 230 employees, according to the press reports at the time. A spokesperson for the Pioneer Market told Cointelegraph via email: