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Dapper Labs Lays off 51 as NFT Market Stays Chilly

Dapper Labs CEO Roham Gharegozlou confirmed on Twitter this morning Asia time that the company has laid off 51 staff amidst a prolonged crypto winter in the Non Fungible Tokens (NFT) market. This is the third round of layoffs the company has gone through in the last twelve months. The NFT market continues to struggle and has not seen the same post-FTX recovery as other parts of the crypto economy. Bored Apes, not made by Dapper Labs but a blue chip NFT collection that can be used as a proxy for market health, have seen the value of some of their Apes drop by upwards of 80%. CoinDesk previously reported, sales volume and users on NFT marketplaces continue to decline while trading volume is struggling.

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