The layoffs across the crypto industry have continued despite the 2023 market recovery with Dapper Labs being the latest to axe staff.
“As part of this restructure, we have made the difficult decision to part ways with team members representing 20% of full-time employees.”
The company is the developer behind some of the most popular NFT collections in the world, such as NBA Top Shots and the first game to overload Ethereum back in 2017, CryptoKitties.Despite the staff reductions, Gharegozlou said the firm “remains in a strong cash position with no outstanding debt.” He added that “we are committed to our flagship products, tremendously excited about several major launches coming up this year.
that it was laying off 15% of its workforce. “Market headwinds” in the crypto sector were cited as the cause.in staff. However, stablecoin issuer Circle has bucked the trend with a 25% increase in its workforce.Furthermore, Dapper Labs is currently embroiled in a court case. On Feb. 22, United States District Court Judge Victor Marrero denied the firm’s request to dismiss a lawsuit regarding the Top Shot NFT collection.
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