Following a spree of layoffs across the crypto industry in 2022 – a microcosm of the tech industry at large, which also saw plenty of reductions last year – Magic Eden becomes the latest company to cut its headcount.
Restructuring Partly Due to Solana Evolution
Magic Eden, an NFT marketplace that up until recently targeted its approach to the NFT market focusing on Solana, has suffered from SOL’s drop in value and the apparition of alternative blockchains for other competitive projects.
As a result, Magic Eden looks to invest in cross-chain integration. According to the letter from the CEO where the layoffs were announced, the project will also be looking into new tools for NFT creators, as well as “social experiences” and reward systems.
“Since then, our business has grown significantly and the nature of our challenges has evolved. Our focus areas for 2023 include growing traction across chains, developing services for NFT creators, and exploring new use cases like rewards
We współpracy z: https://cryptopotato.com/magic-eden-undergoing-restructuring-process-lays-off-22-employees/
