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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
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Parity Technologies, the company behind the Polkadot blockchain, is cutting 30% of its workforce — about 100 employees — amid a widespread wave of staffing cuts across the crypto industry.See related article: Chainalysis cuts 150 employeesFast FactsThe decision to lay off staff arrives as Parity attempts to refocus on its
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Since the Bitcoin Price crossed $50,000 back in the 2021 bull market, there have been speculations on when the price will hit
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A spokesperson for the firm behind the browser said the layoffs were made due to a challenging economic environment. Brave Software, Inc., a company behind the Brave crypto web browser, reduced its workforce by 9% to optimize cost management amid a “challenging economic environment.” In a commentary to TechCrunch, a spokesperson for
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Pascal Gauthier, CEO and chair of hardware crypto wallet manufacturer Ledger, has announced the firm will be reducing its staff by 12%.In an Oct. 5 blog post, Gauthier said the staff cuts had been made “for the longevity of the business,” citing the 2022 bear market and the collapse of
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Chainalysis, a blockchain analysis company backed by Singapore’s leading wealth fund GIC, has reduced its workforce by 15%. According to Bloomberg, the firm plans to curb expenses for potential long-term growth. Chainalysis had around 900 employees before the layoffs and has reduced its workforce by 135 people. “We are very focused on
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Chia Network cut a third of its workforce today as the blockchain platform sought to reestablish a lost banking relationship, the company told CryptoX, further delaying what Chia had hoped would be a rapid path to listing as a public company. Source
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The metaverse is a concept for a digital world where the internet theoretically becomes an immersive virtual environment that can be used for work, play, socializing, and events. While it remains in its very early stages of advancement, Epic Games' announcement suggest that major video game developers have been making
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Epic Games, the company behind Fortnite, has slashed 16% of its workforce — approximately 830 staff — after unrealistic expectations of metaverse-inspired revenue caused it to spend “way more” money than it had been earning.“We concluded that layoffs are the only way and that doing them now and on this
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New York’s blockchain company, R3, has reduced its workforce by over 20% as a cost-saving measure due to lower-than-expected adoption rates in the financial sector. Bloomberg reported that while R3 have seen potential with central banks, other projects didn’t perform as expected, affecting their revenue. In a world of uncertainties, R3’s
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