OpenSea Slashes NFT Marketplace Staff by 50%

OpenSea, the prominent NFT marketplace startup, has laid off about half of its staff, the company confirmed to Decrypt on Friday. A company representative told Decrypt that approximately 50% of employees were impacted across the company.

“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,” OpenSea co-founder and CEO Devin Finzer tweeted Friday.

This story is developing and will be updated with additional details.