According to Techub News, Yuga Labs co-founder Greg Solano tweeted that Yuga Labs laid off employees on Friday local time. In a message to the team, Greg Solano said that Yuga Labs had lost its way and would focus on building a smaller, more efficient, cryptocurrency-native team in the future.

Greg Solano also said that the creativity-first spirit that Yuga Labs had upheld from the beginning had been disintegrated by the labyrinthine company process. Greg Solano said that the progress of Farawaygg, a Web3 game development company under Yuga Labs, will be announced soon.