NFT marketplace OpenSea is downsizing its team as it shifts focus to OpenSea 2.0. CEO Devin Finzer announced the layoffs on X, stating that the company aims to build a "more nimble" version of the platform. This comes after OpenSea laid off 20% of its staff in July 2022. Around 50% of employees across all functions will be affected, with middle managers being particularly impacted. Affected employees will receive four-month severance packages, accelerated equity vesting, and six months of continued healthcare and mental health care. The move follows a decline in the collectible NFT market and a shift towards tokenizing assets, identity, and legal documents.