OpenSea Announces Massive LayOffs For ‘OpenSea 2.0’ Development

Bits Logics Team . 04th Nov 2023

• Devin Finzer announced that OpenSea will be making some “big changes today to focus on the next version” of their product.
• Finzer mentioned that they will be shifting to smaller team for OpenSea 2.0’s development.
• Based on the announcement, OpenSea 2.0 will be tested in public in the future.

Recently, Devin Finzer, the co-founder and CEO of OpenSea, announced on X (formerly Twitter) that OpenSea, one of the largest NFT marketplaces, will be making some “big changes today to focus on the next version” of their product. Finzer mentioned that they are “re-orienting the team” for OpenSea 2.0.

At first, OpenSea’s CEO reflected on OpenSea’s achievements, such as how they built the first marketplace of NFTs when the community was still observing the initial stages of the Web3 world. 

Additionally, Finzer also boasted about Seaport, claiming it was a “robust set of decentralized marketplace smart contracts.” He also talked about OpenSea’s features, including providing systems to help keep users safe from scams and bad actors. Then, he talked about OpenSea Deals and OpenSea Studio allowing users to swap bundles of NFTs through P2P and giving creators a “no-code publishing.”

Finally, OpenSea’s co-founder stated that the community’s feedback about OpenSea was that “it feels like a follower, not a leader.” He assured that OpenSea does not “want to be” that; in fact, Finzer promised that they will “move with speed, quality, and conviction to make more meaningful bets.”

As part of the OpenSea 2.0 development procedure, the Open Sea’s team will be re-oriented. OpenSea 2.0 is expected to be a “big upgrade,” which would also include underlying technology, reliability, speed, quality, and experience.  

To build a new foundation, OpenSea will be “shifting to a smaller team with a direct connection to users.” Hence, OpenSea will be firing a huge number of its team members after “being incredibly thankful for their contributions.” Based on the announcement, OpenSea 2.0 will be tested in public in the future.