Sky Mavis, the developer behind Web3 sport Axie Infinity and the Ronin blockchain, stated it’s shedding 21% of its workforce as a part of a strategic realignment.
Sky Mavis co-founder and CEO Trung Nguyen introduced the layoffs in an X publish, describing the choice as a “shift in priorities” fairly than a mirrored image of worker efficiency or the corporate’s monetary stability.
“It’s a shift in priorities aimed toward aligning our sources with our long-term imaginative and prescient,” Nguyen wrote. He added that affected workers would obtain severance packages and help find new alternatives.
Cointelegraph contacted Sky Mavis for remark however didn’t get a direct response.
A brand new Axie Infinity sport within the making
Nguyen emphasised that the layoffs weren’t resulting from monetary issues however had been a part of a technique to place Sky Mavis for progress in 2025 and past:
“I need to be completely clear: this determination isn’t associated to the corporate’s finances or monetary well being. As a substitute, it’s a strategic transfer that permits for a sharper focus and positioning Sky Mavis for hypergrowth in 2025 and past.”
Nguyen stated the freed-up sources might be utilized in a number of tasks, together with “a brand new Axie sport.” He didn’t present extra data relating to the brand new sport.
Supply: Trung Nguyen
Along with a brand new sport, Nguyen stated the staff would deal with the Ronin Pockets, the Mavis Market, Web3 sport publishing and increasing the Ronin Community. Nguyen stated that the layoffs had been achieved to present the agency higher agility and to deal with its merchandise.
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Axie Infinity tokens and NFTs are removed from their peak
Whereas Sky Mavis stated its determination is unrelated to monetary well being, a few of its blockchain-based property have seen vital worth declines.
Flooring costs for Axie NFTs. Supply: DappRadar
In keeping with knowledge tracker DappRadar, Axie Infinity non-fungible tokens (NFTs) referred to as “Axies,” which had a ground value of above $700 in 2022, now have a ground value of round $0.33.
The Axie Infinity (AXS) token, which reached an all-time excessive of $164.90 in 2021, now trades for round $8.07. One other token, Clean Love Potion (SLP), peaked at $0.39 in 2021 however has dropped to $0.0036.
In the meantime, the Ronin blockchain’s native token, Ronin (RON), carried out effectively in 2024, reaching an all-time excessive of $4.45 in March. It at the moment trades at $1.77.
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