On LinkedIn profiles, Immutable currently has about 310 employees, so this layoff has cut about 8% of its staff. According to insiders, Immutable wants to restructure the company, focusing on developing Gods Unchained – the flagship game that brought this developer fame.
Immutable informed that “this small reorganization” will “create the next generation of web3 games.”
The company stated:
“We hate to lose members of our team and will ensure a smooth transition for those affected by the reorganization,”
“We continue to grow at pace and are on track to reach 360 total headcount in the next five months, with expected growth beyond that.” They added.
Immutable is a layer-2 project for NFTs on Ethereum, with headquarter in Sydney (Australia). In September 2021, the company raised $60 million at a valuation of $410 million. By March 2022, Immutable raised $200 million, expanding its valuation to $2.5 billion, which is 6 times in just 6 months.
Most recently, Immutable established a $500 million fund to develop Web3 games, with the two most prominent game brands being Gods Unchained (GODS) and Guild of Guardians (GOG).
As such, Immutable has added its name to the list of crypto reorganizations. Other names include: OpenSea cut 20% of its staff, Coinbase laid off 1,100 staff, Blockchain.com laid off 25% of its staff, closed its Argentina office, and Cosmos cut 50% of its staff.
Follow our channels for more crypto news:
- Cryptory Insights: https://t.me/CryptoryInsights
- Cryptory Global Community: https://t.me/CryptoryCommunity
- Facebook: https://www.facebook.com/CryptoryNetwork
- Twitter: https://twitter.com/CryptoryNetwork