The CEO of the NFT platform SuperRare, John Crain, announced a 30% cut to the workforce.
I have some tough news to share: pic.twitter.com/iLDKqgyhQa
— SuperRare John 💎 (@SuperRareJohn) January 6, 2023
According to Crain, the company hired too many employees during the last bull market, which ‘proved unsustainable’, and is now unable to support a large headcount.
“The team we have built over the past five years is a group of incredibly talented and passionate people who have become close friends and an integral part of the NFT revolution. We are doing everything we can to help them in their new ventures,” wrote the CEO of SuperRare.
Crain called the platform development ‘a marathon, not a sprint’ and took ‘full responsibility’ for the decision to cut the staff. He added that every member of the SuperRare team will forever remain in the company’s history.
Earlier in November, the Coinbase laid off more than 60 employees, continuing to optimize the staff amid a market downturn.
In December, the Kraken trading platform laid off around 30% of its staff or about 1,100 employees, to ‘adapt to current market conditions’.
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