Popular NFT platform OpenSea has announced that it will lay off 20% of its employees. In the statement shared by the CEO, the reason for this decision was stated as the collapse of crypto money.
While many companies and new platforms have achieved huge growth rates with the rise of the crypto money industry, some of them had to downsize or even close with the recent recession in the industry. The last of these organizations is one of the largest NFT platforms. OpenSea it happened.
OpenSea co-founder and CEO Devin Finzer made a statement on his social media account as of today. 20% of its employees were laid off explained. While Finzer did not explain how many employees this ratio corresponds to, the number of employees of the company was not known clearly. But an OpenSea spokesperson said the company 230 employees will continue to work explained.
The reasons for the dismissals were explained as follows:
“We have entered an unprecedented combination of crypto winter and broad macroeconomic stability, and we need to prepare the company for the possibility of a prolonged downturn. The changes we are making today allow us to stay on a multi-year podium under various crypto winter scenarios (5 years at current volume), giving us high confidence that we will only have to go through this process once.”
Recent layoffs in the crypto industry:
One of the names that did business in the crypto money industry was Coinbase. Coinbase, one of the most popular cryptocurrency exchanges, last month 1,100 employees he was fired. Crypto.com and BlockFi respectively 260 and 170 employees he was fired.
Source :
https://www.theverge.com/2022/7/14/23219076/opensea-nft-layoffs-web3-crypto