OpenSea Parts Ways with 20% of Staff

19.07.2022 08:52
by Sviatoslav Pinchuk
1 min read

The well-known NFT marketplace company, OpenSea, was forced to lay off 20% of its workforce.  This is yet another case of crypto-related companies parting ways with employees due to adverse market conditions and macroeconomic factors.

OpenSea’s representative stated that the current layoffs will allow the company to stay afloat for at least another few years. However, the company believes that the NFT market will keep evolving due to a surge in innovation amid the crypto winter.

Since August 2021, OpenSea made about $2.5 billion each month. Unfortunately, in June, this number saw a 73% decrease, amounting to $695 million.

Some of the more prominent companies that were forced to let go a significant number of their employees include Coinbase, Gemini, and Robinhood.

 

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  • Man who simply bought some BTC for domestic needs in 2014 and then forgot about it till 2017. The dude who got Etherium in 2017 by misclick and sold it in 2018 "just to try". Lost 1 Florida house in XEM in 2018, Sviatoslav finally decided to trade reasonably and now he is one of the most analytical and data-driven trader in Crypto Industry. Has Bachelor Degree of Chinese Interpreter and deep practical experience in competitive niches SEO.

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