The new date is Jul 14, 2022.

OpenSea, the world's largest nonfungible token marketplace, disclosed Thursday that it has laid off 20% of its workforce due to a "crypto winter".

Devin Finzer and Alex Atallah

The OpenSea team was photographed for Forbes in November of 2011.

Sasha Maslow/The Forbes Collection

The company's co-founder and CEO shared a memo on the company's website blaming the general economic instability and the decline in the NFT andcryptocurrencies markets.

The layoffs were necessary to prepare the company for the possibility of a long downturn, and laid off workers were provided with a generous severance package, healthcare coverage into next year and help with job placement, according to a letter written by the company's CEO.

OpenSea is the latest in a string of companies to lay off employees.

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Open Sea was valued at $13.3 billion in January, making it the first NFT billionaires. The market has cooled since that time. The price of the NFT index has plummeted since it was launched. The owner tried to resell Jack Dorsey's first tweets for $48 million, only to get a high bid of about $280 by the end of the auction.

All the big layoffs, record withdrawals and bankruptcies were caused by the $2 trillion crash in the stock market.

Each of the first NFT billionaires is worth billions of dollars after new funding.

The value of Jack Dorsey's NFT plummeted in a year.