OpenSea faces serious challenges

- OpenSea, one of the largest NFT marketplaces, is experiencing a significant decline in business due to low activity in the sector.

- Several key employees have left the company in recent months, including former COO Shiva Rajaraman, head of business development Jeremy Fine, and lead lawyer Karen Kreutzkamp.

- New competitors like Blur and Magic Eden are attracting users with lower fees and new features.

- OpenSea is also facing increased legal and regulatory pressure, including an SEC investigation.