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NFT developer Dapper Labs announces another round of layoffs

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It is reported that the NFT developer Dapper Labs will lay off another 20%, which is less than four months from the last layoff. In an email sent to investors …

NFT developer Dapper Labs announces another round of layoffs

It is reported that the NFT developer Dapper Labs will lay off another 20%, which is less than four months from the last layoff. In an email sent to investors on Wednesday, Roham Gharegozlou, CEO of Dapper Labs, announced “corporate restructuring” and layoffs. He said that as part of the restructuring, we made a difficult decision to lay off 20% of the staff. He also said that the company “has a good cash position and no outstanding debts”. Last November, Dapper Labs laid off 22%. However, a few months before the official announcement of layoffs, many employees had been dismissed and many senior managers had left.

NFT developer Dapper Labs laid off another 20%

Interpretation of the news:


Dapper Labs, the developer of popular NFT game CryptoKitties, has announced a second round of layoffs, resulting in a 20% reduction of their staff. This comes less than four months after their last round of layoffs, which saw a 22% reduction in staff. CEO Roham Gharegozlou cited “corporate restructuring” as the reason for the layoffs in an email to investors, but also stated that the company has a “good cash position and no outstanding debts”.

While it is unclear what specific areas of the company will be affected by the layoffs, it is concerning to see a NFT industry leader undergoing such significant downsizing. The current NFT market is rapidly growing, with several high-profile sales reaching millions of dollars. As a prominent developer in this space, it is surprising to see Dapper Labs struggling to maintain their workforce.

Furthermore, the announcement of “corporate restructuring” raises questions about Dapper Labs’ future plans. Are they planning to shift their focus away from NFT gaming? Are they looking to pivot to a different segment of the market? These are important questions to consider, as the NFT industry is still in its early stages and companies that can successfully adapt to changes in the market are more likely to thrive.

It’s important to remember that this isn’t the first sign of trouble for Dapper Labs. Prior to the official announcement of the last round of layoffs, many employees and senior managers had already left the company. This suggests that there were already internal issues at play before the layoffs became public knowledge.

In conclusion, the second round of layoffs at Dapper Labs is concerning for both the company and for the NFT market as a whole. It remains to be seen what specific changes are planned as part of the “corporate restructuring”, but it is clear that Dapper Labs is struggling to maintain its position as a leader in the industry. The future of the company and the NFT market as a whole will be closely watched in the coming months.

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