06/11/2023 NFT Marketplace OpenSea Cuts Staff

The NFT platform, used to trade Bored Apes and Pudgy Penguins, laid off 50% of its employees as digital art collectibles' floor prices continue to fall.

OpenSea faces clouds. (Jonny Clow/Unsplash)

OpenSea faces clouds. (Jonny Clow/Unsplash)

Non-fungible token (NFT) platform OpenSea has pared back its operating staff as digital art collectibles remain in the doldrums, the company's CEO Devin FinzertweetedFriday.

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The sweeping layoffs may have affected as much as 50% of OpenSea's staff, crypto news outlet Decryptreportedearlier Friday.

The job cuts come as the company prepares to launch a revamped marketplace christened OpenSea 2.0, at a time when NFT prices continue to fall. The platform can be used to trade and collect NFT collections includingBored ApesandPudgy Penguins.

"We’re building a new foundation so we can innovate faster and we’ll have some experiences to share with you soon," Finzer said in a post on X (formerly Twitter). "We will change how we operate - shifting to a smaller team with a direct connection to users."

OpenSea previously laid off roughly 20% of its staff in July 2022, leaving it with a workforce of 230 employees, The Informationreported.

It is unclear how many people the company employed immediately before this latest round of layoffs.

Nor is it immediately clear how OpenSea 2.0 will differ from its predecessor. Finzer didn't share details about the platform's planned product offerings or a timeline for its rollout.

OpenSea didn't immediately respond to CoinDesk's request for comment.

According to a Nansen report, prominent NFTs from well known or “blue-chip” collections saw their floor pricesdrop by more than 25% in August.An NFT's floor price is thelowest price at which a digital art piecefrom a particular collection, or drop, can be sold.

Meanwhile, NFT prices have fallen more broadly as well, with the Nansen NFT-500index dropping 55% during the year-to-date.

Arts

https://www.coindesk.com/tech/2023/11/03/nft-marketplace-opensea-cuts-staff/

Interesting NFTs
The Pixel
The Pixel is a single pixel statement. It is created to validate. The Pixel is a digitally native artwork visually represented by a single pixel (1x1). It is a token that signs the most basic unit of a digital image in a traditional global auction house. It is a tiny mark to carry digitally native art to a potential future history.
Fidenza #6
Fidenza is by far my most versatile algorithm to date. Although the program stays focused on structured curves and blocks, the varieties of scale, organization, texture, and color usage it can employ create a wide array of generative possibilities. Additional project feature(s) => Scale:Jumbo, Turbulence:Med, Colors:Party Time, Have Margin:No, Spiral:No, Soft Shapes:No, Super Blocks:No, Collision Check:No Overlap, Outlined:No, Shape Angles:Curved, Density:High
Smile to Shreds, Neon Gwen
The First KayPikeFashion Mint Ever. Ever feel so joyful and were grinning so hard you felt you could split in half? That punk rebel yell of glee when you pull of a particularly refined stunt? This is the paint of dreams, fangs and neon. Hellish and hard to pull off. I was able to with this work quietly paint a sweet inner tale of childhood influences, rat fink and autobody shops. All while pretending to paint gwenom for the audience. More on that in bonus material. This is my alternate animation made specifically for crypto art collectors. It will only ever exist in this format. You get the Shiny, unused in media verified image. More on that in the bonus material. Mixed Media: Bio/Digital. Glycerin on 5'9" human skin 10-14 hours Performance art. Shot on Canon EOS RP. 16 + hours Photoshop and DaVinci Resolve. All Works are SFW. Art has been Seen on the front page of Reddit, Featured in the New York Times, Galileo.tv, and multiple other promotions including Twitch.tv, Disney Interactive, RIOT games, WB games, AMD and more! More on how this art is unique and potentially explosive in the NFT world: https://youtu.be/CXbNF2Y6srs ------------------------- The purchase of this NFT Grants the buyer unique bonus material. Physical Mail Bonus Package: A verified physical Art Print. Autographed from the artist in 12x16. Please allow a few weeks for delivery. Digital Bonus Package: This image in .mp4. An "About the Art" Video and an "From the Artist" introduction. A README.txt about the artwork with some personal notes and Links relevant to the artwork.
Tactical Cats
Tactical Cats Practical cats, dramatical cats.. Experience the lighthearted inner smile when you are purrfectly purrrple. The cat's meow of pick-me-up paints with swirling tails of joy as vivid as the swirling magentas, blues and purple. I was able to with this work quietly paint a tribute to memories of meeting fans and revisiting "old friends" within the paint itself. All while pretending to paint a version of catwoman for the audience. More on that in bonus material. This is an alternate animation made specifically for crypto art collectors. This NFT depicts the rare, unused in media: verified image. Mixed Media: Bio/Digital. Glycerin on 5'9" human skin 10-14 hours Performance art. Shot on Canon EOS RP. 16 + hours Photoshop and DaVinci Resolve. All Works are SFW. Art has been Seen on the front page of Reddit, Featured in the New York Times, Galileo.tv, and multiple other promotions including Twitch.tv, Disney Interactive, RIOT games, WB games, AMD and more! More on how this art is unique and potentially explosive in the NFT world: https://youtu.be/CXbNF2Y6srs ------------------------- The purchase of this NFT Grants the buyer unique bonus material. Physical mail Bonus Package: A Physical Art Print. Autographed from the Artist in 12x16. Please allow a few weeks for Delivery. Digital Bonus Package: This image in .mp4. An "About the Art" Video and an "From the Artist" introduction. A README.txt about the artwork with some personal notes and Links relevant to the artwork.
Bud
Shalom! I'm Bud. I've never told anyone this, but I once bit a dog. Some people say I'm the Chandler Bing of the group. We're so fur-tunate to have found each other!