Nonfungible token (NFT) marketplace OpenSea announced on Nov. 3 that it was laying off employees. Co-founder and CEO Devin Finzer broke the news on X (formerly Twitter), saying the company was launching OpenSea 2.0 with a smaller team.

OpenSea launched in 2017, when NFTs were an innovation. It operates on a model comparable to eBay and Etsy and accepts payment in Ether (ETH). It laid off 20% of its employees in July 2022, citing the crypto winter, after which it had a staff of 230, according to press reports at the time. A spokesperson at the pioneering marketplace told Cointelegraph by email:

“Today, we are making significant organizational and operating changes as we focus on building… Read more on Cointelegraph