OpenSea lays off 50% of its staff and will reposition the team around "OpenSea 2.0"

ChainCatcher news, according to Decrypt, the NFT marketplace OpenSea confirmed on Friday that it has laid off about half of its employees.

OpenSea co-founder and CEO Devin Finzer stated on social media: "We are repositioning the team around 'OpenSea 2.0', which is a major upgrade to our product, including foundational technology, reliability, speed, quality, and experience. We will change the way we operate, moving to smaller teams that connect directly with users."

A spokesperson added that OpenSea will adopt a flatter organizational structure. Affected employees will receive 4 months of severance pay, 6 months of healthcare and mental health services, and accelerated equity vesting.

Previously, due to the crypto winter and macroeconomic instability, OpenSea had laid off 20% of its workforce last July.