The CEO of NFT marketplace SuperRare has just announced the company intends to lay off 30% of its employees.
John Crane, CEO of NFT marketplace SuperRare, has just announced the company plans to lay off 30% of its employees.
According to him, the company has made the decision because it hired too many employees during the last bull market, which "has proven to be unsustainable" and now it cannot maintain a large number of staff.
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He has written:
"The team we’ve built over the past five years is a group of incredibly talented and passionate individuals who have become close friends and have been integral to kickstarting the NFT revolution. We’re doing everything we can to help them transition to new opportunities."
Crane has said the development of the platform has been like a "marathon, not a sprint" and has taken "full responsibility" for the decision to cut staff. He has added that every member of the SuperRare team will remain forever in the company's history.
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Recall that Coinbase laid off more than 60 employees in November.