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NFT Developer Dapper Labs Announces Another Round of Layoffs

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It is reported that the NFT developer Dapper Labs will lay off another 20%, which is less than four months from the last layoff. In an email sent to investors …

NFT Developer Dapper Labs Announces Another Round of Layoffs

It is reported that the NFT developer Dapper Labs will lay off another 20%, which is less than four months from the last layoff. In an email sent to investors on Wednesday, Roham Gharegozlou, CEO of Dapper Labs, announced “corporate restructuring” and layoffs. He said that as part of the restructuring, we made a difficult decision to lay off 20% of the staff. He also said that the company “has a good cash position and no outstanding debts”. Last November, Dapper Labs laid off 22%. However, a few months before the official announcement of layoffs, many employees had been dismissed and many senior managers had left.

NFT developer Dapper Labs laid off another 20%

Interpretation of the news:


Dapper Labs, the developer behind popular NFT projects like NBA Top Shot and CryptoKitties, has announced a corporate restructuring that will result in the layoff of another 20% of its staff. This announcement comes less than four months after the company laid off 22% of its workforce in November 2020. The news of another round of layoffs has sent shockwaves throughout the NFT community, with many wondering what this means for the future of the company and the broader NFT market.

In an email sent to investors on Wednesday, CEO Roham Gharegozlou explained that the decision to lay off additional staff was a difficult but necessary one. He noted that the company has a good cash position and no outstanding debts. However, it’s unclear what’s behind this latest round of layoffs, especially so soon after the previous round.

Some insiders speculate that Dapper Labs may be struggling to keep pace with the rapid growth of the NFT market, which has exploded in popularity over the past several months. This has led to a flood of new entrants in the market, including major companies like Square and Christie’s. Dapper Labs may be feeling the pressure to stay ahead of the curve and maintain its market dominance.

Others point to possible management issues within the company. Reports have surfaced that many employees were let go before the official announcement, with a significant number of senior managers leaving the company. This could suggest that there are deeper problems at play, such as ineffective leadership or a lack of direction.

Regardless of the specific reasons, this latest news is likely to have broad implications for the NFT market as a whole. Dapper Labs has been a major player in the space, and its success has helped to legitimize the broader concept of NFTs. If the company continues to struggle, it could shake investor confidence in the entire market.

In conclusion, the announcement of another round of layoffs at Dapper Labs is a significant development that raises important questions about the future of the NFT market. While the specific reasons for the layoffs are unclear, it’s clear that the company is facing challenges at a time of rapid growth and competition. Investors and industry experts will be watching closely to see how Dapper Labs responds and whether its fortunes can be reversed.

Keyword: Dapper Labs, NFT, Layoffs

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