OpenSea’s CEO, Devin Finzer, has revealed plans for job reductions as the NFT marketplace undergoes a significant transformation. In a series of posts on the social media platform X, he unveiled the company’s ambitious efforts to establish a new groundwork for accelerated innovation and the enhancement of its core technology.
“At times, OpenSea feels like a follower, not a leader. And that’s not who we want to be. We want to move with speed, quality, and conviction to make more meaningful bets. So we took a step back and reimagined our operating culture, product, and tech from the ground up.
And today, we’re re-orienting the team around ‘OpenSea 2.0,’ a big upgrade to our product – including the underlying technology, reliability, speed, quality, and experience.
We’re building a new foundation so we can innovate faster and we’ll have some experiences to share with you soon. We will change how we operate – shifting to a smaller team with a direct connection to users. So today, we’re saying goodbye to a number of OpenSea teammates.”
According to a recent Forbes report, OpenSea will be cutting 50% of its workforce.
Finzer goes on to note that OpenSea will continue to support its current products through the upgrade, adding that “OpenSea 2.0” will be publicly tested.
“Finally, we’re making these changes with our community in mind. As we rebuild, we’ll continue supporting our existing products, and will be iteratively testing OpenSea 2.0 in public – remaining nimble, attentive, and focused.”
