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NFT Marketplace OpenSea Cuts 20% of Staff as Crypto Job Losses Deepen

  • The NFT marketplace is the largest by trading volume
  • Other crypto firms like Coinbase and Gemini have cut staff
OpenSea Photo Illustration
Photographer: Daniel Harvey Gonzalez/In Pictures/Getty Images
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OpenSea, the world’s largest marketplace for nonfungible tokens, is cutting about 20% of its staff, the latest in a series of layoffs that’s rocked the crypto industry as digital-asset prices continue to plummet.

Chief Executive Devin Finzer announced the job cuts in a tweet on Thursday, and warned of a prolonged downturn amid the collapse in crypto prices and broader economic instability. About 230 people remain with OpenSea, according to company spokesperson Allie Mack.