The world’s largest NFT marketplace cryptocurrency According to the statement of Devin Finzer, the founder and CEO of OpenSea, the company decided to lay off 20% of its employees.
This decision of OpenSea, one of the pioneers of the NFT popularity explosion in 2020 and 2021, surprised the crypto money world.
Cryptocurrency Company OpenSea Cited Crypto Winter And Macroeconomic Factors As The Reason For Layoffs
Finzer, the founder of the platform, explained the reason for their decision in his article shared with investors via Discord:
“With the combination of the crypto winter and macroeconomic instability factors, we have entered an uncertainty. We need to prepare for the possibility of a prolonged market downturn. With the changes we made today, we will be able to withstand many cryptocurrency winter scenarios for many years (about 5 years with our current volume).
We took this kind of step to deal with a difficult decision like layoffs in just one go.”
Finzer also bitcoin and said that during the crypto winter there is a huge opportunity ahead of them, he expects an increase in innovation and use cases in the NFT world.
Today is a hard day for OpenSea, as we’re letting go of ~20% of our team. Here’s the note I shared with our team earlier this morning: pic.twitter.com/E5k6gIegH7
— Devin Finzer (dfinzer.eth) (@dfinzer) July 14, 2022
CEO Devin Finzer, in his message on Twitter, said the following about the downsizing decision:
“Today is a tough day for OpenSea as we are laying off about 20% of our team.
Those who have left us are intelligent, hardworking, mission-oriented individuals who played an immeasurable role in bringing the OpenSea and NFT field to where we are today. We will miss them and they will forever be a part of our story and our community.
I have great faith in the NFT field and OpenSea’s role in it.
During this crypto winter, we will see an explosion in innovation across the ecosystem.
And with the changes we’ve made, we are in a strong position to continue pushing the field forward.”