Dapper Labs Sacks 22% of their Staff

The NFT giant Dapper Labs are having a fair share of the current bearish trend in the crypto market. The company had to reduce the size of its staff to manage the worsening conditions in the Cryptocurrency sector. Given the current macroeconomic situation, the company reported sacking 22% of its staff.

The Chief executive officer of the company revealed that he is aware of all the notifications and emails that have been sent to the leaving staff. He added that those who have not received any notification will not be sacked.

Public Announcement Made by Dapper Labs
Gharegozlou disclosed that the organization had developed from a hundred percent to 600 percent within a space of 24 months. Furthermore, it has commenced an operational challenge that restricts it from being community-steered as it ought to be.

The executive included that he bears the responsibility for that, as well as having to make the hard decision of sacking the staff, as the organization prepares to restructure.

The Chief executive officer also said that the blockchain company has aligned and concentrated its product plan towards a more cost-effective framework that involves making hard decisions founded on skill and capabilities.

Market Attractiveness Suffers
One of the Dapper Labs’ top projects NBA Top Shot keeps losing strength. This is happening after it had made big waves during the opening of 2021. Even now the project has fallen to a two-year depth in terms of monthly sales. After rallying earlier this year’s January, the sales on the company’s platform fell significantly.

A piece of information from CryptoSlam revealed that the NBA Top Shot recorded below $2.70 million of secondary market sales last month. This is 43% lower than $4.7 million in trades in the month before.

Learn from market wizards: Books to take your trading to the next level

 

CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).

Follow @ItuGlobal

This area of the ADVFN.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ADVFN.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.

WHAT IS ADVFN?

ADVFN covers all things stock market.

From the news and opinion pieces on pages like this to share discussion forums, charting tools, financials, live share prices and Level 2, order book data

If you trade or invest ADVFN has the tools you need to make the right decisions.

• 

  101 Ways to Pick Stock Market Winners

  You need the number one bestselling investment guide, the definitive text for day traders, investors and stock pickers.

• 

  The Death of Wealth

  Dissecting the global economy and the financial markets, the book lays out the evidence for the next economic game changer: the Death of Wealth.

• 

  Kenneth G. Mondero

• 

  Igor Kuchma

• 

  Beth Anne Lamar

• 

  Lee Wild