Blur

Polygon

Read

Ethereum’s oldest NFT marketplace is downsizing its workforce as part of a “2.0 strategy” focused on community, product, and reliability.&nbsp;
Devin Finzer, OpenSea co-founder and CEO, disclosed job cuts on Nov. 3 via a thread on X, formerly Twitter. Finzer’s post explained that the decision was necessitated by a rethink of OpenSea’s “operating culture, product, and tech from the ground up”.&nbsp;
The move is part of “OpenSea 2.0” as the digital collectible trading hub moves to <a href="https://twitter.com/dfinzer/status/1720516605933756514" target="_blank" rel="noopener noreferrer nofollow">expand</a> its dominance within the non-fungible token (NFT) market.&nbsp;Around half of the workforce were reportedly impacted by the decision.
<blockquote class="wp-block-quote">
 We will change how we operate – shifting to a smaller team with a direct connection to users. So today, we’re saying goodbye to a number of OpenSea teammates. This is the most difficult part of this change. These folks played a key role in getting us to this point and I’m incredibly thankful for their contributions. <cite>Devin Finzer, OpenSea CEO and founder</cite>
</blockquote>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 1/9 OpenSea is making some big changes today to focus on the next version of our product.— Devin Finzer (dfinzer.eth) (@dfinzer) <a href="https://twitter.com/dfinzer/status/1720516605933756514?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">November 3, 2023</a>
 </blockquote>
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
Finzer’s address finished with salutes for departed OpenSea staffers. “Others would be lucky to hire them.” said the CEO.&nbsp;
The news came hours after OpenSea <a href="https://crypto.news/opensea-rolls-out-pro-version-on-polygon-adds-support-for-cross-chain-swaps/" rel="noopener noreferrer nofollow">unveiled</a> its pro version on L2 network Polygon and announced support for cross-chain swaps, allowing NFT participants to tap a multichain experience from a single platform.&nbsp;
You might also like: <a href="https://crypto.news/blur-dominates-flips-opensea-despite-falling-nft-trading-volumes/" rel="noopener noreferrer nofollow"> Blur dominates, flips OpenSea despite falling NFT trading volumes </a>
Updates from OpenSea follow a turbulent period after former head of product Nathanial Christain was <a href="https://crypto.news/opensea-former-exec-imprisoned-for-nft-insider-trading/" rel="noopener noreferrer nofollow">convicted</a> of insider trading under fraud and money laundering charges.
Bluechip NFT authorities like Bored Ape Yacht Club and creators like Yuga Labs <a href="https://crypto.news/nft-giants-are-protesting-blur-and-opensea-over-royalty-rates/" rel="noopener noreferrer nofollow">considered</a> listing their blockchain collectible on other platforms roughly two months after OpenSea <a href="https://crypto.news/opensea-to-deactivate-its-royalty-enforcement-system/" rel="noopener noreferrer nofollow">deactivated</a> its royalty enforcement system.
Read more: <a href="https://crypto.news/ex-opensea-exec-accused-of-pump-dump-60m-rug-pull/" rel="noopener noreferrer nofollow"> Ex-OpenSea exec accused of pump &amp; dump, $60m rug pull </a>

OpenSea CEO announces layoffs for half of workforce

crypto.news

Other articles published on Nov 3, 2023

Ethereum (ETH) Fees Surge by 30%, Is Network Coming Back?

U.S. authorities to seize $54m in Ethereum connected to narcotics trafficking

Ripple Swell Event 2023: Here’s What To Expect On November 8th and 9th

SEC Seeks Summary Judgment Against Do Kwon and Terraform

US Authorities Seize $54 Million in Cryptocurrencies from Drug Ring Leader!

Investor Who Nailed 2022 Solana (SOL) Bottom Predicts 2019-Style Crypto Rally – Here’s What He Means

Join our free newsletter for daily crypto updates!