Axie Infinity Developer Sky Mavis Lays Off 21% of Workforce, Announces New Game

Web3

November 26, 2024 12:32 PM

In Brief:

Sky Mavis lays off 21% of its workforce to focus on strategic growth and new priorities.
A new Axie Infinity game is set for release in Q1 2025, alongside a focus on the Ronin wallet and Web3 expansion.

Sky Mavis, the developer of Axie Infinity and the Ronin Network, has announced layoffs affecting 21% of its workforce, a decision the company claims is unrelated to financial struggles. Instead, co-founder Nguyen Thanh Trung described it as a strategic move to focus on long-term goals and position the company for growth in 2025 and beyond.

New Direction and Priorities

The firm plans to prioritize its Ronin wallet, Mavis marketplace, Web3 game publishing, and a new Axie Infinity game. Scheduled for release in Q1 2025, the game will build on the lessons learned from Axie Infinity's earlier successes and challenges.

Sky Mavis also expressed optimism about the evolving regulatory landscape in the United States following President-elect Donald Trump’s crypto-friendly policies, which they believe will spur innovation and adoption in blockchain gaming and the broader Web3 ecosystem.

Disclaimer: Backdoor provides informational content only, it is not offered or intended to be used as legal, tax, investment, financial, or other advice. Investments in digital assets involve risk, and past performance does not guarantee future results. We recommend conducting your own research before making any investment decisions.