00:04So today, we just want to talk about what's going on with OpenSea, the NFT marketplace,
00:11which has just announced that it's laying off 20% of their employees.
00:19Sorry, the employees, rather.
00:22So this is quite some news.
00:27It's not surprising after we've heard some of the crypto giants in terms of companies like Coinbase, etc.,
00:36doing massive layoffs, BlockFi and several other companies.
00:41And now, of course, OpenSea, which is a marketplace that is considered to be the largest as far as NFTs go.
00:53But it's been embroiled in a lot of controversy lately, a lot of insider trading, some hacks and a whole lot of issues.
01:07But now it seems like the market has also affected their revenues and they're deciding to slash down their workforce.
01:19So they announced that they would be laying off about 20% of their employees, around 60 people.
01:28So it's not a lot.
01:29It's not that big a company.
01:32But, of course, the CEO, Devin Finzer, blamed CryptoWinter for necessitating the decision.
01:43And I guess this is what we're hearing from a lot of these players in the space that are deciding to cut back on hiring.
01:51Let me know if you are one of these people that have been working at OpenSea and whether you've been affected and generally what you think the outlook is as far as these types of crypto jobs.
02:08Do you think, you know, we're seeing the last of sort of the ripple effects of the market downturn?
02:18Or do you think this is going to carry over into the fourth quarter this year and possibly into 2023?
02:26It's been a lot of talk about an impending recession.
02:29But, yeah, I'll keep you guys up to date with any other news that I find out as far as this.
02:38But let me know what your thoughts are.
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