The layoffs across the crypto industry have continued despite the 2023 market recovery with Dapper Labs being the latest to axe staff.
“As part of this restructure, we have made the difficult decision to part ways with team members representing 20% of full-time employees.”
The company is the developer behind some of the most popular NFT collections in the world, such as NBA Top Shots and the first game to overload Ethereum back in 2017, CryptoKitties.Despite the staff reductions, Gharegozlou said the firm “remains in a strong cash position with no outstanding debt.” He added that “we are committed to our flagship products, tremendously excited about several major launches coming up this year.
that it was laying off 15% of its workforce. “Market headwinds” in the crypto sector were cited as the cause.in staff. However, stablecoin issuer Circle has bucked the trend with a 25% increase in its workforce.Furthermore, Dapper Labs is currently embroiled in a court case. On Feb. 22, United States District Court Judge Victor Marrero denied the firm’s request to dismiss a lawsuit regarding the Top Shot NFT collection.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
NBA's 'Top Shot' NFTs Are Securities, Judge Rules in Dapper Labs CaseNEW: A federal judge has ruled that the offering of NBA Top Shot Moment NFTs, issued by Dapper Labs, are securities. nikhileshde cheyenneligon report
Read more »
Dapper Labs' NBA Top Shot Moments NFTs are securities, federal judge rulesBut the ruling is a narrow one that may not apply to other NFTs, the judge noted.
Read more »
Dapper Labs said to lay off 20% more of its full-time employeesThe CEO says the company is restructuring and has a 'strong cash position.'
Read more »
Dapper Labs Fails to Stop Class Action Lawsuit over NBA Top Shot NFTs | CoinMarketCapA federal judge ruled that the once-hugely-popular NFT video clips known as Moments are likely enough to be securities that a class action lawsuit can go forward.
Read more »
Dapper Labs Ruling Could Spell Trouble for Other Centralized NFT Projects, Experts SayIf Dapper Labs’ NBA Top Shots Moments are found to be securities, the company and its CEO could potentially face civil and criminal penalties for selling unregistered securities.
Read more »