Axie Infinity creator Sky Mavis lays off 50 employees

• Sky
  Mavis
  lays
  off
  50
  employees
  to
  streamline
  operations
  for
  future
  growth.
• Layoffs
  are
  a
  strategic
  move,
  not
  due
  to
  financial
  instability
  or
  poor
  performance.
• Axie
  Infinity’s
  token
  AXS
  dropped
  by
  3.78%
  after
  the
  news
  but
  later
  recovered.

Sky
Mavis,
the
developer
behind
the
popular
blockchain-based
game
Axie
Infinity,
has
announced
the
layoff
of
21%
of
its
workforce,
translating
to
approximately
50
employees.

This
decision
is
part
of
the
company’s
broader
efforts
to
streamline
its
operations
and
focus
on
its
core
products.

Layoff
isn’t
a
result
of
financial
instability

Co-founder
and
CEO
Nguyen
Thanh
Trung
took
to
X
(formerly
Twitter)
to

clarify
that
the
layoffs
were
a
strategic
move
aimed
at
positioning
the
company
for
future
growth.
He
emphasized
that
the
decision
was
not
a
result
of
financial
instability,
but
rather
a
realignment
of
resources
to
better
align
with
the
company’s
long-term
vision.

Trung
noted
that
the
layoffs
were
not
a
reflection
of
the
employees’
contributions
to
Sky
Mavis,
but
were
instead
necessary
to
ensure
the
company’s
agility
as
it
focuses
on
key
initiatives
for
2025
and
beyond.

“The
decision
to
part
ways
with
talented
team
members
was
not
made
lightly,”
Trung
said.
He
explained
that
the
move
would
help
the
company
concentrate
on
important
projects,
including
the
upcoming
launch
of
the
Ronin
blockchain
in
Q1
2025,
and
expansion
efforts
for
the
Ronin
Wallet
and
Ronin
Network.

Sky
Mavis
aims
to
remain
focused
on
the
blockchain
gaming
space,
doubling
down
on
what
makes
the
company
“truly
exceptional”
rather
than
diversifying
into
new
areas.

Sky
Mavis’
restructuring
efforts
come
after
a
tumultuous
period,
including
a
devastating
hack
in
2022
that
resulted
in
a
$600
million
loss.
This
led
the
company
to
shift
from
its
original
play-to-earn
model
to
a
free-to-play
structure.

Despite
these
challenges,
Sky
Mavis
is
maintaining
its
commitment
to
the
Web3
ecosystem,
continuing
to
develop
Axie
Infinity
and
other
products
within
the
Ronin
network.

Following
the
announcement,
the
price
of

Axie
Infinity’s
native
token,
AXS,
saw
a
notable
decline
of
3.78%
to
$7.18
but
it
has
since
recovered
and
climbed
to
$8.17
at
press
time.

This
news
reflects
the
growing
pressure
on
blockchain
gaming
companies
to
adapt
to
the
evolving
market
while
ensuring
financial
sustainability
and
product
relevance.