Yuga Labs co-founder Greg Solano says the corporate behind the Bored Ape Yacht Membership (BAYC) non-fungible token (NFT) is trimming down its workforce.
In a message to workers shared on the social media platform X, Solano says Yuga Labs should lay off a few of its workers amid plans to make adjustments within the firm.
“Over the previous two months, I’ve been decided to vary each what we do and the way we do it, and meaning making some very laborious, strategic selections. Sadly, this features a restructuring and a few roles inside the firm are affected.”
Solano additionally explains what prompted the choice to restructure the corporate and function with fewer individuals.
“To place it merely: Yuga misplaced its method. Getting ourselves centered and on the proper path means being a smaller, extra agile and cryptonative workforce. A workforce that does fewer issues however does them brilliantly.”
The announcement comes after Yuga Labs offered the mental property rights of its NFT-powered video games HV-MTL and Legends of the Mara to gaming agency Faraway.
Solano says the deal is a part of the plan to assist Yuga Labs get again on prime. He says the corporate can now additionally put extra work on its metaverse undertaking, Otherside.
“A part of that plan has began to roll out, such because the spinout of HV-MTL and Legends of the Mara, which permits us to focus our gaming efforts on 3D Otherside. Different elements of the plan shall be introduced quickly. And to be clear, some issues are nonetheless taking form.”
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