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Yuga Labs Announces Restructuring and Layoffs

Yuga Labs, the company behind the popular NFT collectible, has announced layoffs and other restructuring, according to CEO Greg Solano’s memo. The reorganization focuses on transforming the business strategy to prioritize the Otherside Metaverse over the previous broad approach. This approach was taken after a round of layoffs in October, and lately, announcing Faraway game developers to take the projects to web3. The layoffs are carried out to get rid of the unprofitable areas and redirect all resources toward the main, and successful, projects. By selling some key expansions to Faraway and reorienting towards the Otherside gaming metaverse, Yuga Labs relies on its advanced interface to cater to the growing and competitive audience.

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