{"id":69524,"date":"2022-11-03T13:16:09","date_gmt":"2022-11-03T11:16:09","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=69524"},"modified":"2025-09-07T20:33:14","modified_gmt":"2025-09-07T17:33:14","slug":"dapper-labs-cuts-22-of-its-staff","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/dapper-labs-cuts-22-of-its-staff\/","title":{"rendered":"Dapper Labs cuts 22% of its staff"},"content":{"rendered":"<p>The Canadian NFT company Dapper Labs laid off about 22% of its staff. The cuts affected roughly 134 employees, <a href=\\\"https:\/\/betakit.com\/dapper-labs-lays-off-22-percent-of-staff\/\\\">BetaKit<\/a> reported.<\/p>\n<p>Senior vice president of the firm, David Feldman, confirmed the layoffs:<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cToday is a difficult day for Dapper Labs as we said goodbye to some incredibly talented, thoughtful and selfless teammates.\u201d<\/p>\n<\/blockquote>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">Today is a difficult day at <a href=\\\"https:\/\/twitter.com\/dapperlabs?ref_src=twsrc%5Etfw\\\">@dapperlabs<\/a> as we said goodbye to some incredibly talented, thoughtful and selfless teammates. (1\/2)<\/p>\n<p>\u2014 dave feldman (@dbfeld) <a href=\\\"https:\/\/twitter.com\/dbfeld\/status\/1587951929350569985?ref_src=twsrc%5Etfw\\\">November 2, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\\\"\\\" src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>The company rose to prominence as the creator of the first popular blockchain game CryptoKitties. Dapper Labs also launched <a href=\"https:\/\/forklog.com\/en\/news\/flow-blockchain-and-token-an-l1-for-nfts-and-gamefi\">Layer-1 blockchain Flow<\/a>, on which its NFT projects run, including NBA Top Shot.<\/p>\n<p>Against the backdrop of the bear market in cryptocurrencies, the NFT space has seen a protracted downturn. Trading volume on the leading marketplace OpenSea has declined month after month and, in September, reached $348 million. This aligns with levels seen in the summer of 2021, according to <a href=\"https:\/\/forklog.com\/en\/news\/september-in-numbers-ethereum-moves-to-proof-of-stake-and-bitcoin-hits-a-local-low\">ForkLog report<\/a>.<\/p>\n<p>Dapper Labs CEO Roham Garegozlou, in a letter to employees about the layoff, noted:<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cWe at Dapper Labs are betting on what moves progress and leads the industry to a tipping point, and removing anything that does not align with that goal. Despite our efforts to tenfold the market, we must become a targeted, well-ordered organisation that will allow us to profit, take control of our own destiny and move sustainably toward the goal, regardless of economic conditions.\u201d<\/p>\n<\/blockquote>\n<p>According to him, the cuts are necessary for \u201cthe long-term health of the business.\u201d<\/p>\n<p>Garegozlou also said the company would pursue changes in its strategy aimed at a \u201cmore sustainable cost structure.\u201d He did not disclose details.<\/p>\n<p>In September 2021, Dapper Labs closed a funding round of $250 million with participation from Google Ventures and Andreessen Horowitz. At that time, <a href=\"https:\/\/forklog.com\/en\/news\/dapper-labs-closes-250-million-funding-round-led-by-google-ventures-and-a16z\">the company&#8217;s valuation reached $7.6 billion<\/a>.<\/p>\n<p>In March of the same year, <a href=\"https:\/\/forklog.com\/en\/news\/developers-of-the-nba-top-shot-nft-platform-raise-305-million-from-michael-jordan-and-other-investors\">the firm raised $305 million<\/a>.<\/p>\n<p>Read ForkLog&#8217;s Bitcoin news in our <a href=\\\"https:\/\/telegram.me\/forklog\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Canadian NFT company Dapper Labs laid off about 22% of its staff. The cuts affected roughly 134 employees, BetaKit reported.<\/p>\n","protected":false},"author":1,"featured_media":69525,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[83,1577],"class_list":["post-69524","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-business","tag-dapper-labs"],"aioseo_notices":[],"amp_enabled":true,"views":"20","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/69524","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=69524"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/69524\/revisions"}],"predecessor-version":[{"id":69526,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/69524\/revisions\/69526"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/69525"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=69524"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=69524"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=69524"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}