Shift

Ronin

Axie Infinity

<ul class="wp-block-list"> 
 <li>Out of around 250 worldwide team members, over 50 are scheduled to be let off.</li> 
 <li>Nguyen said the layoffs are a reflection of a change in priorities.</li> 
</ul> 
Despite announcing plans for expansion in the next year, Axie Infinity maker <a href="https://thenewscrypto.com/axie-infinitys-creator-sky-mavis-announced-plans-to-reopen-ronin-bridge/" target="_blank" rel="noreferrer noopener">Sky Mavis</a> has announced the layoff of 21% of its employees. As per a report by TechInAsia, out of around 250 worldwide team members, over 50 are scheduled to be let off. 
CEO and co-founder Trung Nguyen stated: 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 “I want to be absolutely clear: this decision is not related to the company’s budget or financial health. It is a strategic move that allows for a sharper focus and positioning Sky Mavis for hypergrowth in 2025 and beyond.” 
</blockquote> 
<h3 class="wp-block-heading" id="h-strategic-shift-in-priorities">Strategic Shift in Priorities</h3> 
While outlining the company’s future plans, Nguyen said the layoffs are a reflection of a change in priorities. These plans include growing the <a href="https://thenewscrypto.com/ronin-network-loses-9-8-million-in-eth-pauses-bridge/" target="_blank" rel="noreferrer noopener">Ronin Network</a> and wallet service, improving the Mavis Marketplace, continuing to develop Axie Infinity, and creating a new Axie Infinity game. 
The CEO further added: 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 “As crypto-friendly policies gain traction, we anticipate a wave of innovation and adoption for utility-driven Web3 projects. I remain steadfast in our commitment to Sky Mavis’ mission: ‘To bring economic freedom to everyone, starting with gamers.’” 
</blockquote> 
When the COVID-19 epidemic hit in 2018, Sky Mavis’s blockchain play-to-earn <a href="https://app.axieinfinity.com/" target="_blank" rel="noreferrer noopener nofollow">game</a>, Axie Infinity, shot to fame. The company was launched in 2018. There were around 2.7 million users per day and $214 million worth of in-game <a href="https://thenewscrypto.com/introducing-squarecrows-nfts-that-bridge-the-digital-and-physical-worlds/" target="_blank" rel="noreferrer noopener">NFTs</a> traded every week when it was at its peak. 
Unfortunately, in 2022, the company’s Ronin Ethereum sidechain was heavily hacked, leading to a loss of around $600 million. Also, the U.S. authorities held the hacking organization Lazarus, which was sponsored by North Korea, accountable for this crime.

Axie Infinity Creator Sky Mavis Announces 21% Layoffs Citing Strategic Shift

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