Axie Infinity game developer Sky Mavis lays off 21% of workforce
Quick Take Sky Mavis, the developer of Axie Infinity, is laying off 21% of its workforce, which will affect about 50 employees. Despite the layoffs, CEO Trung Nguyen emphasized that the company is positioning for growth in 2025.
Axie Infinity maker Sky Mavis is laying off 21% of its workforce amid the company's statement that it's eyeing growth in the coming year.
According to a TechInAsia report , the layoffs are expected to affect roughly 50 employees out of about 250 global team members.
“I want to be absolutely clear: this decision is not related to the company’s budget or financial health,” CEO and co-founder Trung Nguyen wrote in an X post last Saturday. “It is a strategic move that allows for a sharper focus and positioning Sky Mavis for hypergrowth in 2025 and beyond.”
Nguyen wrote that the layoff reflects a “shift in priorities” as he listed the company’s main focus going forward, which includes expanding the Ronin Network and wallet service, Mavis Marketplace, Axie Infinity and developing a new Axie Infinity game.
Sky Mavis was founded in 2018 and rose to prominence as its blockchain play-to-earn game, Axie Infinity, became hugely popular during the COVID-19 pandemic. At its height, it had roughly 2.7 million daily active users and $214 million in weekly trading volume for in-game NFTs.
However, the company’s Ronin Ethereum sidechain suffered a major hack in 2022 , resulting in a loss of around $600 million, for which the U.S. government accused the North Korea-backed hacker group, Lazarus.
“As crypto-friendly policies gain traction, we anticipate a wave of innovation and adoption for utility-driven Web3 projects,” Nguyen said. “I remain steadfast in our commitment to Sky Mavis’ mission: ‘To bring economic freedom to everyone, starting with gamers.’”
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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