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Opensea executive joins the list of high profile resignations

Author

Laurent Guerin
October 11, 2022

Good evening (because it's always evening somewhere!). You're reading "To The Moon", the only newsletter that will teach you how to sail. So, let us take you on a journey of discovery and see what’s been happening in the NFT ocean this October 11th.Have feedback? Great, we don't want you to keep us in the dark! Send all of your thoughts to [email protected].

  • CNN pulls the plug (and the rug)

  • Man overboard at Opensea

  • Half Moons

  • Shooting Star

  • Dark Side of the Meme

To the Moon index

CNN pulls the plug (and the rug)

If there's one thing the NFT community hates, it's when a project doesn't deliver. As a result of a classic mismatch between concept and execution, CNN announced the shutdown of their NFT "Vault," a marketplace where media fans could buy news "NFT Moments" similar to NBA Topshots.

In a press release from another galaxy (the 20th-century galaxy), the Cable News Network reports that this was only a 6-week experiment that lasted longer due to its success. Transparency at its best.

The community ain't laughing and is outraged at the news, with some accusing CNN of a "rug pull," feeling they've been lied to and promised utility, events and exclusives for an empty shell. The media company even recently encouraged its NFT holders to buy more tokens for an upcoming "Art of Voting" NFT series, due to launch on November 8th.

Instead, they'll get a refund at the current value, down 80% since the project started. We know all too well what happened there. CNN Vault never got the buy-in they needed from leadership. The media dinosaur tried to make a quick buck and jumped ship as soon as the first wave hit.

Rats.

Man overboard at Opensea

It is possible that Opensea CFO Brian Roberts grew tired of the #brokensea jokes and memes flooding the #1 NFT marketplace and decided to sail other seas. He'd been onboard for 11 months. Or maybe he was hired by CNN to write their press release...

The former Lyft CFO's Linkedin profile acknowledges Brian had "the rare opportunity to build a team literally from the ground up and handpicked game changers." It sounds a lot like an 11-month experiment. And a happy ending too.

While Brian Roberts will continue to serve as an advisor and remain "incredibly bullish on Web3 and especially OpenSea", Ryan Foutty, VP of business development at OpenSea, also announced his departure. The bear market keeps taking its toll as the company has already laid off 20% of its workforce in July.

After the great resignation last year, we've witnessed a great high-profile crypto resignation wave over the previous three months. Brian Roberts joins a list that includes Michael Saylor (Micro Strategy), Michael Moro (Genesis), Sam Trabucco (Alameda Research), Jesse Powel (Kraken), Ashwin Prithipaul (Voyager), Brett Harrison (FTX US), Alex Mahinsky (Celsius) and Daniel Leon (Celsius). I wonder what name they will give their ship.

Half Moons 🌓

  • University Of Michigan Becomes The First To Open NFT Gallery [NFTEvening]

  • Ape Water Launches Casting Call For The Face Of Their New Can [NFTEvening]

  • Gods Unchained Announce Esports Tournament with $70k Prize Pool [NFTEvening]

  • Skyweaver Game Developers Horizon Raise $40 Million Funding [NFTEvening]

Shooting Star 🌠

Shay the Surrealist is a 23-year-old digital artist from Delaware who strives to turn the ordinary into extraordinary and surreal masterpieces. Shay is also a graphic designer, digital illustrator, and photographer who constantly pushes her creative limitations. For Shay, art is a way to connect and communicate her deepest thoughts and emotions. Shay The Surrealist is on many platforms, which you can view on her Linktree.

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Dark Side of the Meme 🌚