NFT Marketplace Magic Eden Lays Off 15% of its Employees
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Feb. 14, 2023

Solana-based NFT marketplace Magic Eden has just announced the layoff of 22 people, which corresponds to 15% of its staff.

Jack Lu, CEO of the company, has stated:

"Magic Eden has made the difficult decision to part ways with 22 teammates as part of a company-wide restructuring effort."

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According to him, the current optimization is largely driven by the priorities for 2023, which are drawn up after careful analysis of what structures and roles are needed to "transition to the next stage of scaling."

He has highlighted that despite the bear market, the company remains "very well capitalized" and poised for growth.

Magic Eden raised $130 million in June in a Series B funding round led by Electric Capital and Greylock Partners.

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