NFT Marketplace OpenSea’s CFO Steps Down as Transaction Volume Shrinks 60% October 10, 2022 October 10, 2022 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsOctober 10, 2022 by Kelly Cromley

NFT Marketplace OpenSea’s CFO Steps Down as Transaction Volume Shrinks 60%

After barely 10 months of service, Brian Roberts, the chief financial officer of the OpenSea non-fungible token marketplace, has quit. Roberts will continue to serve as an adviser consultant for the OpenSea NFT market.

Brian Roberts acknowledged his retirement from the OpenSea NFT marketplace in a 9 October blog post, noting that he remains optimistic about the future of Web3 apps on OpenSea and its future market regulations. “Well, it’s time for me to come ashore from the wide waters,” he commented. I am glad for the chance and proud of several achievements, but none surpass the power of the OpenSea financial team. I got the unique chance to construct a squad from the bottom up and choose game modifications. I’ve been working with Devin Finzer and the very competent Justin Jow to guarantee a seamless transition.”

In a later article, the former senior official of OpenSea revealed that he will continue to serve as the NFT marketplace’s marketing adviser to help it sometimes manage its path. Roberts observed:

“I will continue to serve as a consultant for the organization. I remain really optimistic about Web3 and OpenSea in particular. I guarantee you that the firm is headed in the right direction and that the best is yet to come.

After more than seven years with the ride-sharing application firm Lyft, Brian Roberts joined the OpenSea NFT marketplace as the chief financial officer in November of 2017. Roberts also served on the Fred Hutch Board of Trustees. OpenSea has declined for five straight months as a result of Roberts’ departure, which coincides with an ongoing pessimistic trend in the NFT sector as a whole. According to Dune Analytics, the trading volume of non-exchange-traded funds (NFTs) has decreased significantly in 2022 compared to the previous year.

According to industry statistics, the overall amount of NFT sales has decreased from $17 billion in January to $466 million in September. Nevertheless, despite the market collapse, the OpenSea NFT market remained rather healthy, producing $144 million in the third quarter of this year.

In recent weeks, OpenSea has implemented a number of developments, such as enabling users to advertise and acquire NFTs in bulk and supporting Ethereum Layer 2 scaling solutions, such as Optimism and Arbitrum. The NFT market anticipates that these advancements will return its performance to an upward trend.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.