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Cryptocurrencies: 26901
Markets: 106767
Market Cap: $3,743,426,752,261     
24h Vol: $129,864,322,227
Seeking Alpha 2023-02-23 22:25:57

NFT shop Dapper Labs said to cut 20% more of staff as part of restructuring

NFT shop Dapper Labs said to cut 20% more of staff as part of restructuring
Dapper Labs, the developer of well-known non-fungible token collection such as NBA Top Shot, is laying off 20% of its full-time employee base to mark its second round of job cuts in less than four months, The Block reported Thursday, citing a document. Roham Gharegozlou, CEO of the NFT powerhouse, announced the layoffs as part of a "corporate restructure," he wrote in an email sent to investors on Wednesday, while noting the company has a "strong cash position with no outstanding debt." Similarly, cryptocurrency analytics firm Messari earlier said it reduced its headcount by 15% amid the company's restructuring effort. In the midst of a market downturn, Dapper reduced 22% of its workforce in November 2022, The Block noted . In October, Dapper Labs restricted payment services for NFT owners whose accounts were tied to Russia following the European Union's sanctions against the country .
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