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News

Sky Mavis Workforce Layoffs Impact 21 Percent Of Employees

November 25, 2024 - Around 2 mins mins to read

Key Points:

  • Sky Mavis Workforce Layoffs affect 21% of employees, about 50 people.
  • Layoffs aim to align Sky Mavis for 2025 growth and innovation in Web3.
Sky Mavis workforce layoffs impact 21% of staff as the Axie Infinity developer announces strategic changes, aiming for growth and innovation by 2025.
Sky Mavis Workforce Layoffs Impact 21 Percent Of Employees

Sky Mavis Workforce Layoffs Impact 21% of Its Global Team

Sky Mavis announced the laying off of 21% of the workforce worldwide 50 employees from the current total of 250 team members. According to its CEO, Trung Nguyen, all this did not happen because of money troubles but as a strategic positioning for strong growth in the next few years. These changes aim at repositioning the company’s priorities as it looks to continue being on the edge in the fast-moving blockchain world.

They reflect Sky Mavis’s focus on long-term sustainability and innovation. While part of the existing positions are laid off, Nguyen reassured that the company is still committed to its mission to deliver economic freedom to gamers worldwide. According to CEO and co-founder Trung Nguyen, that places it as one more step toward reaching hypergrowth in 2025 and strengthening the organization for further challenges.

Read more: Ronin Network Review: Sidechain for Web3 Games Developed by Sky Mavis

Sky Mavis Shifts Focus on Ronin Network and Axie Infinity

Sky Mavis is rebooting its focus toward key projects such as expanding the Ronin Network, enriching the Mavis Marketplace, and innovating within the Axie Infinity ecosystem. This seems like a strategic shift to capitalize on newly emerging opportunities in the blockchain space. More importantly, the company is doubling down on its core platforms to build stronger foundations to sustain growth and innovation.

Founded in 2018, Sky Mavis obtained worldwide recognition with Axie Infinity, a play-to-earn blockchain-based game that gained gigantic proportions during the COVID-19 pandemic. It saw 2.7 million daily active users at its peak and drove record-high NFT trading volumes. But after experiencing some stumbling blocks, like the Ronin hack in 2022, the company took this focus seriously to push into robust infrastructure and strategic planning.

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William

In the fast-paced world of day trading, I've honed my skills for over six years using technical analysis tools and crafting short-term strategies. My expertise isn't from textbooks but from the trenches of online trading communities. I excel at reading chart patterns, applying technical analysis, and mastering risk management. "The market is about probabilities," I declare. As Editor at Coincu, I empower readers with the insights and strategies to conquer the dynamic world of day trading.