ImmutableX Faces Restructuring: Crypto Gaming Company Cuts 11% of Staff

ChainPlay

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one year ago

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Australian NFT gaming company, Immutable, has recently announced a cut in its workforce. According to news sources, the largest crypto gaming start-up is laying off 11% of its employees.

The layoffs are a part of the company's plan to make "hard choices" and put the focus on the essential aspects of the business. The company's Co-founder and CEO, James Ferguson, released an apology for the impact of layoffs on the employees, "I am sorry to all Immutables impacted by these changes." He said. “I take full ownership for these actions.”

Crypto Layoffs

In this year alone, the web3 industry has lost more than 2,000 jobs. These include layoffs from high-profile crypto companies such as Dapper Labs, Polygon Labs, and Magic Eden. One of the highest layoffs is at Coinbase. The crypto wallet platform has laid off 20% of its workers, closing down most of its operations in Japan.

Immutable X is a developer platform for Web3 games and is a layer-2 scaling solution for NFTs on Ethereum. It NFT marketplace allows players to trade or mint freely with near-zero gas fees. Furthermore, its gaming studio is a pioneer web3 gaming studio that has supported and built high-quality NFT games.

Immutable is also the creator of one of the top NFT trading card games called Gods Unchained and the NFT RPG game, Guild of Guardians. It is reported that the layoff includes core members from the development of the NFT trading card game.

Final Thoughts

Despite the recent layoffs, Immutable plans to continue its operations and invest in the growth and development of the company.  The spokesperson also confirmed that the company's NFT gaming platform, Immutable X, will continue its operations, and they will still be investing in growth and development.

If you want to see which games are available on ImmutableX, you can visit this page for complete information.