Devin Finzer – CEO of OpenSea – announced on Thursday that roughly 20% of employees have been let go by the NFT marketplace. The move is intended to better prepare the company for up to five years of a potentially “prolonged” crypto winter.
“We built this company with the cyclicality of crypto in mind,” he said. “We’ve also built a very strong balance sheet through the money we’ve raised and product market fit we’ve proven.”