Sky Mavis, the brains behind the popular blockchain game Axie Infinity, is shaking things up with a bold new strategy! In a move that's got everyone talking, they've decided to trim their global team by 21%. This isn't about money woes, though—it's all part of a clever plan to set the stage for future growth and innovation.
The announcement means around 50 out of their 250 employees will be parting ways, but fear not! Sky Mavis is ensuring a smooth transition with severance packages and job placement support for those affected. Co-founder Nguyen Thanh Trung was quick to clarify that this decision is all about zeroing in on their core products and long-term goals, not because of financial pressure.
Trung is optimistic about the future, especially with the recent crypto-friendly policies sparking new waves of innovation in the Web3 space. It's reminiscent of the company's early days back in 2018 when they launched Axie Infinity and made waves in the play-to-earn gaming arena.
Sky Mavis has been on a roll since its founding, crafting its own blockchain, Ronin, to keep up with the success of Axie Infinity. With over 1.1 million daily active addresses and a whopping 10 million downloads of the Ronin Wallet app, it's no surprise that Ronin is one of the most used blockchains out there.
But it's not all been smooth sailing. Sky Mavis faced a rough patch with a massive hack in 2022, losing $615 million in cryptocurrency. They bounced back, though, by introducing a free-to-play version of Axie Infinity and expanding Ronin for more Web3 gaming projects.
In another twist, the platform recently faced a second hack, with attackers making off with over $11 million. Right after, co-founder and COO Aleksander Leonard Larsen announced that the team had hit pause to dive deep into an investigation, following a heads-up from some white hat hackers about a potential exploit.
It's a wild ride for Sky Mavis, but with their eyes set on growth and innovation, they're ready to tackle whatever comes next!
