Metaplex layoffs — Nov 18, 2022

Metaplex Announces Layoffs on November 18, 2022 After FTX Collapse; Job Cuts Not Disclosed

Metaplex announced layoffs on November 18, 2022, following the collapse of FTX, with the company citing broader market conditions affecting the Solana NFT protocol. The company did not disclose how many employees were affected or what percentage of its workforce was cut.

The announcement came as crypto markets continued to absorb the fallout from FTX’s failure, which has had a wider impact across the digital asset industry. Metaplex said the layoffs were tied to the market environment rather than to a specific operational issue.

Metaplex is a Solana-based protocol focused on NFTs and digital asset infrastructure. The company’s tools are used to create and manage NFTs on Solana, making it a key part of that ecosystem’s development stack.

No additional details were provided about the company’s future staffing plans or whether further changes were expected. The announcement did not include a timeline for the layoffs or any direct quote from company officials in the source material.

Sources: Google News