OpenSea CFO Brian Roberts Steps Down After 11 Months in the Job
Though he has left the CFO role, Roberts will remain as an advisor to OpenSea.
OpenSea is going through some leadership shakeup
Brian Roberts, the Chief Financial Officer of leading NFT marketplace OpenSea, has stepped down from his position after serving the role for 11 months. On October 7th, Roberts took to LinkedIn to announce his departure, adding that he remains bullish on what's to come in Web3, especially on OpenSea and its future developments.
"Well it is time for me to come ashore from the 'open seas'. I'm grateful for the opportunity and proud of many accomplishments but none more than the strength of the finance team at OpenSea."
"I had the rare opportunity to build a team literally from the ground up and handpicked game changers. I've been working closely with Devin Finzer and the supremely capable Justin Jow to ensure a smooth transition," said Roberts in the post.
Though Roberts did not give any specific reasons for his exit, he added that he would remain as an advisor to the company.
With more than three decades of experience in the financial sector, the seasoned exec joined OpenSea as CFO in 2021 after working for a ride-sharing company, Lyft, for more than seven years. During his tenure as Lyft's first CFO, Roberts helped scale its business, raise $7 billion of capital including through its IPO, and reach Adjusted EBITDA profitability. He has also spent over a dozen years as an M&A investment banker, most recently as Senior Managing Director at Evercore Inc.
Roberts' resignation comes at a time when the overall NFT market is undergoing a bearish slump in trading. In fact, OpenSea's Vice President of Business Development, Ryan Foutty, resigned on the same day.
Per data collected from Dune Analytics, the overall NFT trading volume has plunged 97% from $17 billion in January to $466 million in September. The staggering downturn has surely affected many Web3 companies at large. In July, OpenSea had to lay off 20% of its staff to sustain its operations.