OpenSea Lays Off 20% Of Employees

NFT Marketplace OpenSea has laid off about 20% of its staff amid extremely difficult market conditions.
OpenSea Lays Off 20% Of Employees

OpenSea co-founder Devin Finzer announced on his Twitter account that the company will lay off 20% of its employees.

Finzer cited the crypto winter as a factor behind the decision. He said making this decision was essential “to be in a strong position”. He believes that the bear market will bring a lot of innovation to the ecosystem.

“Hi all, we made an incredibly sad and difficult decision to reduce the size of our team by ~20%, and today we’re saying goodbye to many of our friends and team members across OpenSea.”

In addition to staff reductions, OpenSea has a number of other problems within the company. Earlier this year, the platform was hacked when PeckShield reported that they had $700,000 of ETH stolen from the platform.

And other matters, this past May, a scam was announced on the official OpenSea Twitter account. This scam is based on a fake advertisement that says, OpenSea and YouTube have teamed up to come up with a new NFT collection. An affiliate is said to have provided a place on the waitlist for these NFTs. However, it’s just an online scam.

OpenSea Lays Off 20% Of Employees

On July 1, an employee of, Opensea’s emailing partner, accessed the non-fungible token (NFT) market database. These people then leaked the emails of customers and newsletter subscribers to the outside without permission.

OpenSea has joined a number of industry-leading crypto companies, including many exchanges, that have laid off staff or halted hiring in recent months. Some typical names are Gemini, Coinbase, and,… Not long ago the company’s co-founder Alex Atallah also announced his resignation.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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