Dapper Labs, the prominent nonfungible token (NFT) creator and technology firm, has unfortunately announced its third round of staff layoffs within a year. Today, CEO Roham Gharegozlou bid farewell to 51 of his brilliant colleagues and friends in a heartfelt note to employees.
The cuts affected both full-time staff and C1 contractors, making the decision all the more difficult for Gharegozlou. However, he emphasized that these measures were necessary to ensure the company’s efficiency and agility moving forward.
Despite these developments, Gharegozlou reassured everyone that Dapper Labs and its blockchain platform, Flow, remained in a strong financial position.
This is the third instance of downsizing for Dapper Labs in less than a year. The company previously reduced its staff by 22% in November 2022 and by 20% in February 2023.Â
Known for its innovative NFT collectibles like CryptoKitties and NBA Top Shot, Dapper Labs has faced challenges amidst a broader slump in the NFT market and trading. Reports indicate that NFT markets have been imbalanced, with sellers prevailing and blue chip collections experiencing significant drops in floor prices.
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While these cutbacks are undoubtedly unfortunate, Dapper Labs remains optimistic about its future prospects. The company aims to adapt to the evolving landscape of NFTs and emerge as a lean and resilient organization ready to seize new opportunities in the market.
