Even the best known NFT brand can't escape the effects of a collapsing industry. Yuga Labs, the company behind the blue-chip Bored Apes NFTs and related collections, and the acquirers of collections including CryptoPunks, has announced that it will be joining the many other companies in the crypto world performing layoffs. They did not disclose how many employees would be losing their jobs."It's a challenging time, not only for our industry but also for the global economy," wrote Yuga Labs CEO, apparently hoping that people ignorant to the past year of disaster across the NFT industry might be willing to attribute Yuga Labs' struggles to macroeconomic forces and not the implosion of the crypto — and particularly NFT — world.
        • federalreverse-oldEnglish
          3•1 year ago

          That certainly was the basis, they bought ape artwork from a freelance artist, then generated OVER 9000 variations and sold that stuff off. But, while the artist was a freelancer, they had three four co-founders iirc. Then they needed to get a bunch of celebrities on board. And they had lots of interesting plans for “perks” for their members. Some of which irl, some of which online. And of course you need some kind of customer service or at least Discord moderation. So yeah, I guess some employees were needed.