OpenSea Non-Fungible Market (NFT) CFO Brian Roberts has become the latest senior Web3 executive to step down amid the current bear market, leaving just 10 months in the role.
On October 7, the former chief financial officer of joint transportation platform Lyft and OpenSea said it was time for him to “go ashore” from the “high seas,” but did not give the exact reason for the change, only that he wanted to stay. as an advisor for the company going forward.
Roberts was named CFO in December 2021, after being with Lyft for seven years. He has also previously held corporate positions with the American retail giant Walmart and the technology company Mircosoft.
Roberts was one of many tech veterans to move to Web3 in recent years, including former Google VP Surojit Chatterjee, who became chief product officer at Coinbase in 2020, and Amazon’s Pravjit Tivan, who became Gemini’s chief technologist. officer in January 2022.
One of his main tasks during his time at OpenSea was the development of the finance team. In a LinkedIn post, Roberts noted:
“I had the rare opportunity to build a team literally from scratch and handpick the creators.”
According to his statement, he has been working closely with CEO Devin Finzer and VP of Strategic Finance Justin Joe to ensure a “smooth transition,” which could mean Joe will step up to the next level and fill the newly vacant leadership position.
Despite stepping down as CFO, Roberts emphasizes that he remains “incredibly optimistic about Web 3.”
Notably, Roberts’ departure came on the same day that another OpenSea executive announced his departure.
On October 7, Ryan Foti, Vice President of Business Development at OpenSea, announced that he was leaving the company after 18 months.
Foti said the company has come a long way since running from co-founder Alex Atallah’s vault and wished his “colleagues” the best.
Related: OpenSea will allow users to submit listings and make bulk purchases of NFTs
Roberts and Foti are just the latest crypto leaders to exit their current positions amid the market downturn.
NFT trading volume is down 98% from around $6.2 billion at the end of January to $114.4 million.
The NFT market also suffered setbacks, including a 20% cut in July and a significant drop in daily trading volume.
In May, the entire market plunged off the cliff as the ongoing crypto bear market began.
Other notable executives who have announced they are leaving their companies include US FTX President Brett Harrison, Kraken CEO Jesse Powell, MicroStrategy CEO Michael Saylor and Genesis Trading CEO Michael Morrow.