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OpenSea Lays Off 50% Of Its Staff

The marketplace will focus on OpenSea 2.0, an upgraded iteration focused on performance and end-user engagement.

ETH Daily

• 2 min read
OpenSea Lays Off 50% Of Its Staff

Quick Take

  • OpenSea lays off 50% of its staff.
  • Lens Protocol V2 goes live.
  • Devconnect issues a second travel update.
  • The Dencun upgrade is now slated for 2024.
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OpenSea Lays Off 50% Of Staff

OpenSea, the largest NFT marketplace all time volume, announced significant staff layoffs, cutting its workforce by roughly 50%, according to Decrypt. The downsizing was publicized by OpenSea CEO Devin Finzer through a series of tweets introducing OpenSea 2.0, an updated version of the marketplace focused on performance and end-user engagement. Finzer attributed the downsizing to the strategic decision to focus on OpenSea 2.0 with a smaller team structure, rather than the current market conditions. The exact number of affected employees was not disclosed. The move comes amid a decrease in OpenSea’s market share.

Lens Protocol V2 Goes Live

Lens Protocol V2, an upgrade that introduces open actions, composability, and security improvements, is now live on Polygon Mainnet. Open actions allow developers to integrate external smart contracts directly into Lens publications, including actions like external NFT drops. Lens Protocol V2 supports the ERC-6551 standard, allowing content to be owned by a Profile NFT. The update also changes "follows" to be profile-based, allowing follow NFTs to be attached to a Profile NFT. An improved profile manager allows users to hold their Profile NFT in a hardware wallet and delegate social actions to other wallets. Most Lens ecosystem dapps, including Orb, Phaver, and Tape, have migrated to Lens V2.

Devconnect Travel Update #2

Devconnect, an Ethereum-centric conference scheduled for November 13-19, 2023, in Istanbul, released a second advisory for those planning to attend. The update follows last week's alert, which the Israeli government advised for its citizens to exit Turkey. Devconnect features a series of events across various venues with the Istanbul Congress Center (ICC) serving as the central hub. ENS frENS Day and DeFi Day have been canceled, while Arbitrum Day has transitioned to a virtual format. Several in-person events will proceed as planned, including Censorship.WTF, the ETH Global Hackathon, ETHconomics, EVM Day, Fe Day, Vyper Day, Onchain Summit, and L2DAYS. Attendees can stay up to date via Devconnect's Telegram and Twitter channels.

Dencun Upgrade Now Slated For 2024

The Ethereum Dencun upgrade, initially anticipated to launch this year, is now slated to go live on mainnet in Q1 2024, provided the testnet phases do not encounter significant setbacks. The extended timeline is a result of further testing to validate changes introduced with the upgrade. Core developers are planning for at least one more devnet before commencing the upgrade on the Goerli, Holesky, and Sepolia testnets, followed by the rollout on mainnet.

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