Blockchain Gaming Company Dapper Labs Lays Off 20% of its Staff
Dapper Labs, the blockchain-based gaming company behind popular games such as CryptoKitties and NBA Top Shot, has announced that it will be laying off 20% of its staff. The company, which is based in Vancouver, Canada, currently employs around 450 people.
The decision to downsize comes just a few months after Dapper Labs raised $305 million in a funding round led by Coatue, which valued the company at $2.6 billion. In spite of this success, the company has been facing increasing pressure in recent months due to a slowdown in the crypto market and a decline in user activity on its platforms.
Dapper Labs CEO Roham Gharegozlou has said that the company was taking steps to streamline its operations and focus on its core products. He stated, “We’ve made the difficult decision to restructure some of our teams to better align with our top priorities and to improve our overall efficiency as a company.”
Gharegozlou has also emphasized the company remains committed to its vision of bringing blockchain technology to mainstream audiences through gaming and other applications.
Despite the layoffs, Dapper Labs has continued to move forward with its product development plans. The company recently launched a new blockchain-based game called Dr. Seuss Digital Collectibles, which allows users to collect and trade digital versions of characters from the beloved children’s book series.
