Sky Mavis, the Vietnamese company behind the NFT-based game *Axie Infinity* and the Ronin blockchain, has announced a 21% workforce reduction.
The decision was revealed on November 23 by Sky Mavis co-founder and CEO Trung Nguyen through a post on X (Twitter). In the statement, Nguyen emphasized the company’s plan to narrow its focus moving forward.
“Rather than trying to build products for all users, we are doubling down on what makes Sky Mavis truly exceptional,” the post stated.
The company plans to prioritize the Ronin wallet, *Axie Infinity,* a new Axie game, and the expansion of the Ronin Network.
Nguyen explained that the layoffs are not a response to financial struggles but a strategic choice. “In order to better focus on these products and have the agility needed to open Ronin in Q1, we have made the tough decision to let go of 21% of our workforce,” the post continued.
He added that this restructuring aims to position Sky Mavis for significant growth in 2025 and beyond.
Layoffs in the Web3 sector have become increasingly common as companies adapt to regulatory and market challenges.
Earlier this month, Alibaba reduced the size of its metaverse unit as part of a broader restructuring. The company plans to continue work on specific metaverse applications and tools despite the cuts.
In April, Yuga Labs, known for the Bored Ape Yacht Club NFT collection, announced layoffs as part of efforts to restructure and adapt to market conditions. Similarly, eBay reevaluated its NFT strategy in February, reportedly including staff reductions at its platform, KnownOrigin.
Last year, OpenSea, one of the leading NFT marketplaces, reduced its workforce while focusing on “OpenSea 2.0,” an initiative aimed at improving technology and user experience.
