Sky Mavis, the developer of the Web3 game Axie Infinity and the Ronin blockchain, announced the layoff of 21% of its employees as part of a strategic reorganization. This was stated by co-founder and CEO Trung Nguyen on his social media page. He called the decision to reduce staff a "shift in priorities" rather than a reflection of employee performance or the company's financial stability.
This shift in priorities is aimed at aligning our resources with our long-term strategy. This step will allow the team to focus more on work and prepare for hypergrowth in 2025," Nguyen wrote.
The CEO of Sky Mavis stated that the resources freed up by the layoff of 50 employees will be used in several projects. For example, in the new Axie game, Ronin Wallet, Mavis Marketplace, and the expansion of the Ronin Network.
And although the co-founder of Sky Mavis stated that his decision is not related to the financial situation, the value of some of the company's assets has significantly decreased.
According to data from the tracker DappRadar, the NFT Axie Infinity called Axies, which had a minimum price exceeding $700 in 2022, now costs about $0.33.
