Dapper Labs Cuts 22% Staff as NFT Market Cooling Off: Report
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Nov. 3, 2022

Blockchain developer Dapper Labs has laid off around 22% of its employees in a rush to reorganize its business as NFT trading volumes decline, BetaKit has learned.

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In an internal letter to staff, Dapper Labs Founder and CEO, Roham Gharegozlou, said that the changes have been made given the current "macroeconomic environment." He continued:

"These reductions are the last thing we want to do, but they are necessary for the long-term health of our business and communities."

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Gharegozlou emphasized the Vancouver-based firm will now double down on "what will move the needle and get the whole industry to its next inflection point," without specifying the strategy plan. The latest move means around 134 people will lose their job as Dapper Labs says on social media that 613 employees work at the company.

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