Sky Mavis, the development company behind Axie Infinity and the Ronin gaming blockchain, has laid off nearly a quarter of its employees.<\/p>\n
On 23 November 2024, Sky Mavis co-founder Nguyen Thanh Trung took to X to say that the company \u201cmade the tough decision to let go of 21% of our workforce.\u201d<\/p>\n
Sky Mavis, the maker of Axie Infinity, will lay off 21% of its employees, which amounts to approximately 50 staff members.<\/p>\n
I think there is still a long and bumpy road to go in GameFi\u2019s winter\u2026.. pic.twitter.com\/1ATLZLSi3h<\/a><\/p>\n \u2014 Rukawa Kaede. (@show4653) November 26, 2024<\/a><\/p>\n\n Trung claims that the layoffs are not due to financial struggles or budget cuts. \u201cInstead, it is a strategic move that allows for a sharper focus and positioning Sky Mavis for hypergrowth in 2025 and beyond,\u201d Trung explained.<\/p>\n Moreover, the firm is re-aligning its developmental priorities. There will be a focus on the Ronin wallet, Mavis marketplace, Axie Infinity and a related new game.<\/p>\n Axie Infinity is a play-to-earn game featuring NFT collectibles such as artwork and videos. They became significantly popular in early 2021. Its native token, AXS, was one of the top-performing digital assets of the 2021 cycle, peaking at $165 billion per AXS. It is down 95% from those highs, currently trading for around $7.<\/p>\n I said it when $RON<\/a> was under $1 + I\u2019ll say it again now@Ronin_Network<\/a> is grossly undervalued<\/p>\n Here\u2019s why: \u2014 Elisa (@eeelistar) November 25, 2024<\/a><\/p>\n\n The Ronin Network is an Ethereum (ETH) gaming-focused sidechain that serves crypto games, including Axie Infinity. Trung claims it is now the third-most-used crypto network.<\/p>\n The bridge connecting the Ronin Network with Ethereum has also been hacked on several occasions. The last one occurred in early August, when the bridge lost approximately $12 million worth of assets, however, the white hat hacker who hacked the protocol returned most of the funds soon after.<\/p>\n Trung also hinted at the changing regulatory climate, presumably in reaction to Republican candidate Donald Trump\u2019s victory in the US presidential elections. \u201cAs crypto-friendly policies gain traction, we anticipate a wave of innovation and adoption for utility-driven Web3 projects,\u201d he wrote.<\/p>\n During his campaign, Trump vowed to loosen restrictions on digital assets and blockchain technology firms in the US. Trung\u2019s comments suggest that the prospect of those changes had real impact on the strategy of the company going forward.<\/p>\n \u201cThe bottom line is that the token design space will now massively open up. I believe that\u2019s most bullish for DeFi and gaming, which we believe are the most consequential sectors that have the most long-term substantive value in this industry,\u201d a Sky Mavis representative told the media. \u201cWe believe this regulatory shift will drive significant adoption, not just for blockchain gaming but for the broader Web3 industry.\u201d<\/p>\n Hold onto your hats All-Stars!<\/p>\n We just flew past the 6M mark! It looks like the sky is going to be filled with $STARS<\/a> pretty soon!<\/p>\n Grab your share here: https:\/\/t.co\/8IZTKBdAp2<\/a> pic.twitter.com\/9Bdm4z8jb7<\/a><\/p>\n \u2014 Crypto All-Stars (@all_stars_coin) November 26, 2024<\/a><\/p>\n\n Crypto All-Stars ($STARS)<\/span><\/a> has just flown past the $6 million mark in its presale, pointing to a resurgence in the idea of a meme coin supercycle. It looks like $10 million is a formality as high-IQ traders are all buying into STARS.<\/span><\/p>\n This project features the industry\u2019s first unified meme coin staking protocol that supports both multi-token and multi-chain assets, is poised to be a new avenue for generating passive income from some of the most playful tokens in the market.<\/span><\/p>\n Aptly named the \u2018MemeVault\u2019, the protocol allows top meme coins to be pooled together to earn substantial rewards. This makes it an ideal way to maximize returns on meme coins that otherwise offer zero utility.<\/span><\/p>\n As proof of its forward momentum, Crypto All-Stars is expanding the roster of meme coins accepted in its protocol. Alongside favorites like $DOGE, $SHIB, $BONK, and others. There\u2019s a good chance that newer meme coins such as $CHILLGUY and $GOAT could be added to the lineup soon.<\/span><\/p>\n If you haven\u2019t secured your bag, just head to the<\/span> Crypto All-Stars website<\/span><\/a>, connect your wallet (such as<\/span> Best Wallet<\/span><\/a>), and swap ETH, USDT, or BNB for $STARS. Bank card payments are also accepted.<\/span><\/p>\n Stay up-to date by joining the Crypto All-Stars community on<\/span> Telegram<\/span><\/a> or<\/span> X<\/span><\/a> for the latest project updates.<\/span><\/p>\n Visit Crypto All-Stars<\/a><\/strong><\/p>\n\n EXPLORE: What Does FOMC Minutes Tomorrow Mean For Bitcoin Price and Crypto Bull run?<\/a> Join The 99Bitcoins News Discord Here For The Latest Market Update<\/strong><\/a><\/p>\n<\/div>\n The post Firm Behind Axie Infinity Announces Layoffs, Nearly Quarter Workforce Fired<\/a> appeared first on <\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Sky Mavis, the development company behind Axie Infinity and the Ronin gaming blockchain, has laid off nearly a quarter of its employees. On 23 November 2024, Sky Mavis co-founder Nguyen Thanh Trung took to X to say that the company \u201cmade the tough decision to let go of 21% of our workforce.\u201d Sky Mavis, the […]<\/p>\n","protected":false},"author":0,"featured_media":23656,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-23655","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/23655"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=23655"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/23655\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/23656"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=23655"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=23655"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=23655"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\u201cLayoffs Part Of Firm\u2019s Strategic Re-Aligning,\u201d Co-Founder<\/h2>\n
Axie Infinity Developer Plans To Focus On Expanding Gaming-Focused Ronin Network<\/h2>\n
\u2013 15+ games now vs 1 last cycle
\u2013 #1 crypto gaming ecosystem by transaction volume, user count + game metrics
\u2013 1M+ daily active wallets which is more than at the peak of\u2026 pic.twitter.com\/GW4aLb73lh<\/a><\/p>\nBONUS: Crypto All-Stars (STARS) Hits $6 Million In Presale Raise, $10 Million Next<\/h2>\n
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