According to TechFlow, on November 25, blockchain game company Sky Mavis announced a 21% layoff of its employees, about 50 people. Co-founder Nguyen Thanh Trung said that the layoffs were to refocus on core products and long-term development strategies, not due to financial pressure.
Affected employees will receive severance pay and job placement support. Founded in 2018, Sky Mavis is known for developing Axie Infinity, a game that popularized the "play-to-earn" model during the pandemic. The company suffered a $600 million hack in 2022 and later switched to a free-to-play model.