OpenSea to Lay Off 50% of Workforce in Response to NFT Bear Market, “OpenSea 2.0” Set to Launch Soon

According to a report by Cointelegraph, this is the second round of layoffs for the pioneer in the NFT market, following the crypto winter and NFT bear market. OpenSea laid off 20% of its employees in July 2022, reducing its workforce to 230 people. A spokesperson for OpenSea stated that approximately half of the employees were affected, with a specific mention of a reduction in the number of mid-level managers. The affected employees will receive four months of severance pay, accelerated stock vesting, and six months of continued medical and mental health care.