Sky Mavis disables 21% of the workforce, plans a new Axie Infinity game
Sky Mavis, the developer behind Web3 game Axi Infinity and Ronin Blockchain, has said it is cutting 21% of its workforce as part of a strategic restructuring.
Sky Mavis founder and CEO Truong Nguyen announced on XPost that he was fired because of “a change in priorities” rather than employee performance or the company's financial stability.
“It's a shift in priorities aimed at aligning our resources with our long-term vision,” Nguyen wrote. He added that the affected workers will receive severance packages and support in finding new opportunities.
Cointelegraph reached out to Sky Mavis for comment but did not receive an immediate response.
New Axie Infinity game in progress
Nguyen stressed that the strikes are not about financial issues, but part of a strategy to position Sky Mavis for growth in 2025 and beyond.
“I want to be absolutely clear: this decision has nothing to do with the company's budget or financial health. Instead, it's a strategic move that positions Sky Mavis for greater growth in 2025 and beyond.
Nguyen said the released resources will be used in various projects, including a “new Axie game.” He did not give more information about the new game.
Source: Trung Nguyen
In addition to new games, Nguyen said the team will focus on Ronin Wallet, Mavis Marketplace, Web3 game publishing and expanding the Ronin network. Nguyen said the strike was done to give the company better efficiency and focus on its products.
Related: Bitcoin NFTs Outsell Ronin in All-Time Sales
Axie Infinity Tokens and NFTs are far from high-end.
While Sky Mavis said the decision was not related to its financial health, some of its blockchain-based assets have seen significant declines in value.
Floor prices for Axie NFTs. Source: Dapradar
According to data tracker Dapradar Dapradar, Axie Infinity non-fungible tokens (NFTs) called “Axies”, which had a floor price of over $700 in 2022, now have a floor price of around $0.33.
The Axie Infinity (AXS) token, which reached an all-time high of $164.90 in 2021, is now trading at $8.07. Another token, Smooth Love Potion (SLP), was released in 2011. It peaked at $0.39 in 2021 but has fallen to $0.0036.
Meanwhile, Ronin Blockchain's native token Ronin (RON) has performed well in 2024, reaching a high of $4.45 in March. It currently trades at $1.77.
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