- OpenSea reduces workforce to shift focus to foster innovative OpenSea 2.0.
- About 50% of the marketplace’s employees will be eliminated as part of the initiative.
- The affected staff will be provided four-month severance packages and six-month healthcare packages.
American Non-Fungible Token (NFT) marketplace OpenSea has announced the company’s decision to reduce its workforce in an attempt to redirect its focus to foster innovative OpenSea 2.0. The company’s decision was revealed through an official X post by OpenSea co-founder and CEO Devin Finzer, who wrote about the shift to “a smaller team with a direct connection to users.”
1/9OpenSea is making some big changes today to focus on the next version of our product.
— Devin Finzer (dfinzer.eth) (@dfinzer) November 3, 2023
As part of introducing the marketplace upgrade OpenSea 2.0, intended to enhance the platform’s underlying technology, reliability, speed, quality, & experience, nearly 50% of the company’s employees would be eliminated. However, the affected individuals are guaranteed four-month severance packages, an accelerated equity vesting timetable, and six months of continued healthca…
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