OpenSea lays off 50% of its staff and will reposition the team around "OpenSea 2.0"

NFT marketplace OpenSea confirmed on Friday that it had laid off about half its staff. Devin Finzer, co-founder and CEO of OpenSea, said: "We are repositioning the team around 'OpenSea 2.0,' a major upgrade to our product including underlying technology, reliability, speed, quality and experience. We We will change the way we operate, moving to smaller teams and having direct contact with users.” A spokesperson added that OpenSea will adopt a flatter organizational approach. Employees affected by the layoffs will receive four months of severance pay, six months of health care and mental health services, and accelerated equity vesting. Previously, due to the crypto winter and macroeconomic instability, OpenSea laid off 20% of its employees in July last year. (Decrypt)