NFT Giant Opensea Retrenches an Unknown Number of Employees

Opensea not too long ago retrenched an unknown variety of workers as a part of what the CEO Devin Finzer describes as a rebuilding train. According to the CEO, taking this step helps Opensea construct a basis which allows it to innovate quicker.

Smaller Team With Direct Connection to Users

Opensea, one of many largest non-fungible token (NFT) marketplaces, not too long ago parted methods with a few of its long-serving workers as a part of a rebuilding train. According to Devin Finzer, the co-founder and CEO of Opensea, the target of the train is to have “a smaller team with a direct connection to users.” Finzer mentioned whereas the departure is the “most difficult part of this change,” taking this step helps Opensea construct a basis which allows it to innovate quicker.

Finzer’s affirmation of the employees’ retrenchment is coming at a time when the NFT hype continues to fizzle out. As not too long ago reported by Bitcoin.com News, the NFT gross sales, which have been trending downwards since February 2023, went down by 21% in October. The flagging NFT gross sales have seen certainly one of Opensea’s largest buyers Coatue mark down its funding by 90%.

However, in a statement shared by way of X (previously Twitter), the CEO appeared to shrug off fears that Opensea will proceed to see decreased gross sales revenues.

“We’re making these modifications with our neighborhood in thoughts. As we rebuild, we’ll proceed supporting our present merchandise, and will likely be iteratively testing Opensea 2.0 in public — remaining nimble, attentive, and targeted,” Finzer mentioned.

The CEO added that his group is now engaged on “re-orienting the team around” the upgraded product.

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