Nft marketplace OpenSea lays off 20 percent of staff because of ‘crypto winter’

The American NFT marketplace OpenSea is laying off a fifth of its staff because the sale of NFTs on the platform is falling sharply. At the beginning of this year, the company received another $300 million in a financing round.

A spokesperson for OpenSea reports to The Verge that 230 employees will continue to work at the nft platform after the dismissal round. According to OpenSea CEO Devin Finzer the round of layoffs is due to the ‘combination of a crypto winter and macroeconomic instability’. Finzer says he expects that there will be an ‘explosion of innovation and usability of NFTs’ during this lesser period.

OpenSea is by no means the only nft platform that is saying goodbye to employees. The crypto exchange Coinbase sent . last month 1100 employees out of the way. This is due to the falling price of bitcoin. The American game store GameStop recently launched its own NFT marketplace. Shortly before that, it was announced that GameStop Fires Staff, Including CFO Michael Recupero.