Web3 Game Mythical Games Laid Off About 10% Of Its Workforce

Web3 unicorn gaming 10% of Mythical Games’ personnel will be reduced as part of a business restructuring. A day after three of the startup’s top executives quit, there will be layoffs.

Due to the economic downturn, Mythic Games, a Web3 game, laid off about 10% of its workforce as part of a corporate restructuring.

The startup currently has about 321 employees. Three core executives of NFT game company Mythical Games have left this week, namely Rudy Koch, co-founder of Mythical Game, Mythical Game co-founder Matt Nutt, chief executive officer and head of game studio and distribution, senior strategy and investment.

VP Chris Ko, and the three executives are all game industry veterans and have previously worked at companies like Blizzard, Activision, and Electronic Arts.

On November 4 of last year, NFT gaming startup Mythical Games announced today that it has received US$150 million in Series C funding and that the company’s valuation has reached 1.25 billion U.S. dollar.

This funding round was led by a16z, with participation from D1 Capital, RedBird Capital, The Raine Group, Binance and FTX, and existing investors Galaxy Interactive, WestCap, 01 Advisors, Javelin Partners, Struck Capital, Alumni Ventures and Signum Growth Investments pursue.

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