Brian Roberts, the chief financial officer at OpenSea, has resigned after a 10-month service at the platform. However, he mentioned playing the role of an advisor for the company. On the LinkedIn page thereof, Roberts declared that he was the initial finance-related executive hired on the behalf of the NFT marketplace. In his words, he had the responsibility of advancing the finance group of the company.
After the departure of the executive, Justin Jow – the Vice President of Finance at the firm – will be placed in his position. The former CFO of Lyft stated that Roberts had a very bullish stance on the world of Web3 and OpenSea in particular. He added that the respective firm is going through some difficulties at present however it will rise again to show its best.
OpenSea’s Declining Performance Compels It to Lay off Twenty Percent of Workforce
Formerly this year, it was disclosed by OpenSea that twenty percent of the workforce operating under it would be laid off by it because of the impact created by the overall bear market.
The sales volume as well as the general revenue of OpenSea has witnessed a massive decrease after being influenced by the recent crypto bear market. Non-fungible tokens’ trading volume has declined by nearly ninety percent since the beginning of this year.
The trading volume of OpenSea has reached its unique lows following 2022’s start. In line with the data provided by DappRadar, during the recent thirty days, the figure of up to $341.43M has been reached by the transaction volume of the NFT marketplace. In addition to this, just $144M was recorded by the marketplace in charges for the 3rd quarter and the revenue was just $35M.
The exodus of Crypto Executives Includes Many New Names
Many C-suite executives present within the space of cryptocurrency are quitting. During some of the previous months, a minimum of 10 executives exited the crypto space. Jesse Powell of Kraken has declared a transition strategy according to which he will shortly leave the role of CEO.
Michael Saylor of MicroStrategy has also left his position of CEO and another recent resin is that of Brett Harrison (the previous President at FTX.US). Apart from that, Alex Mashinsky of Celsius (a crypto lender) and Compute North’s (a BTC mining firm) Dave Perril are the other executives who have resigned.
Disclaimer: NFTs and Cryptocurrencies are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by our authors (namely Business Voices content) and the views expressed in these types of posts do not reflect the views of this website. Please read our full disclaimer here.
