OpenSea lays off 50% of workers with severance in preparation for model 2.0 launch

Nonfungible token (NFT) market OpenSea introduced on Nov. 3 that it was shedding staff. Co-founder and CEO Devin Finzer broke the information on X (previously Twitter), saying the corporate was launching OpenSea 2.0 with a smaller crew.

OpenSea launched in 2017 when NFTs had been an innovation. It operates on a mannequin similar to eBay (NASDAQ:) and Etsy (NASDAQ:) and accepts fee in Ether (ETH). It laid off 20% of its staff in July 2022, citing the crypto winter, after which it had a workers of 230, in accordance to press reviews on the time. A spokesperson on the pioneering market informed Cointelegraph by e-mail:

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