Out of around 250 worldwide team members, over 50 are scheduled to be let off.
Nguyen said the layoffs are a reflection of a change in priorities.
Despite announcing plans for expansion in the next year, Axie Infinity maker Sky Mavis has announced the layoff of 21% of its employees. As per a report by TechInAsia, out of around 250 worldwide team members, over 50 are scheduled to be let off.
CEO and co-founder Trung Nguyen stated:
“I want to be absolutely clear: this decision is not related to the company’s budget or financial health. It is a strategic move that allows for a sharper focus and positioning Sky Mavis for hypergrowth in 2025 and beyond.”
Strategic Shift in Priorities
While outlining the company’s future plans, Nguyen said the layoffs are a reflection of a change in priorities. These plans include growing the Ronin Network and wallet service, improving the Mavis Marketplace, continuing to develop Axie Infinity, and creating a new Axie Infinity game.
The CEO further added:
“As crypto-friendly policies gain traction, we anticipate a wave of innovation and adoption for utility-driven Web3 projects. I remain steadfast in our commitment to Sky Mavis’ mission: ‘To bring economic freedom to everyone, starting with gamers.’”
When the COVID-19 epidemic hit in 2018, Sky Mavis’s blockchain play-to-earn game, Axie Infinity, shot to fame. The company was launched in 2018. There were around 2.7 million users per day and $214 million worth of in-game NFTs traded every week when it was at its peak.
Unfortunately, in 2022, the company’s Ronin Ethereum sidechain was heavily hacked, leading to a loss of around $600 million. Also, the U.S. authorities held the hacking organization Lazarus, which was sponsored by North Korea, accountable for this crime.
