Quick take:
- The move is part of Sky Mavis’s strategy to refocus on developing core products and positioning for long-term growth.
- The new focus includes expanding the Ronin Network and wallet service, Mavis Marketplace, Axie Infinity, and developing a new Axie Infinity game.
- Sky Mavis co-founder Nguyen Thanh Trung emphasised that financial constraints did not prompt the decision.
Sky Mavis, the developer of the popular NFT game Axie Infinity is laying off 21% of its workforce, affecting approximately 50 staff members based on the company’s global workforce of 250.
Announcing the layoffs on Saturday, Sky Mavis co-founder Nguyen Thanh Trung highlighted the company’s achievements in 2024, including the Ronin wallet exceeding 10 million downloads and the Ronin blockchain becoming the “third biggest network” with more than 1.1 million daily active addresses.
The company is now preparing itself for the next growth phase as “crypto-friendly policies gain traction.”
“we anticipate a wave of innovation and adoption for utility-driven Web3 projects—ushering in a shift as monumental as the one we experienced when we introduced Axie Infinity to the world in 2018,” Thanh Trung said via a post on X.
Thanh Trung also emphasised that financial constraints did not prompt the decision, adding that this is part of the company’s strategy to refocus on developing Sky Mavis’s core products, including expanding the Ronin Network and wallet service, Mavis Marketplace, Axie Infinity, and developing a new Axie Infinity game.
“The decision to part ways with talented team members was not made lightly and does not reflect their contributions to Sky Mavis. It is a shift in priorities aimed at aligning our resources with our long-term vision,” he said.
In 2022, Sky Mavis’s Ronin network was exploited, with hackers stealing 173,600 ETH and $25 million USDC. The company responded by enhancing security and decentralisation features, whilst also adding 5 new validators.
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