Non-fungible token platform OpenSea has laid off half of its team. This is reported by The Block.
The decision was made in connection with a change in the course of development of the marketplace. The new OpenSea 2.0 strategy involves a smaller team with a direct connection to users, said platform co-founder and CEO Devin Finzer.
“Sometimes OpenSea feels like a follower rather than a leader. And that’s not who we want to be. We want to act quickly, efficiently and confidently to make more meaningful bets. So we took a step back and rethought our operating culture, product and technology from the ground up,” he explained.
See more
4/9
But we’ve also heard your feedback loud and clear: at times, OpenSea feels like a follower, not a leader.And that’s not who we want to be. We want to move with speed, quality, and conviction to make more meaningful bets.
— Devin Finzer (dfinzer.eth) (@dfinzer) November 3, 2023
The changes come as trading volume on OpenSea fell to $106 million in August. The indicator was the lowest since April 2021.
The platform’s share of the NFT market has dropped from over 73% in October 2022 to 18% in November 2023, according to The Block. Its main competitor was Blur.
In September, Primitive Ventures’ Dovi Wang said OpenSea’s valuation had collapsed from $12 billion to less than $1.2 billion.
Let’s remember that in October, Yuga Labs, the studio behind the Bored Ape Yacht Club NFT collection, announced layoffs. The company is focused on its own metaverse, Otherside, launched in the spring of 2022.
Subscribe to ForkLog on social networks
Found an error in the text? Select it and press CTRL+ENTER
ForkLog newsletters: keep your finger on the pulse of the Bitcoin industry!
2023-11-04 08:29:22
#NFT #marketplace #OpenSea #cut #staff #ForkLog
