Dapper Labs' Feldman: 'A difficult day' as company lays off 22% of staff

People • November 2, 2022, 8:21PM EDT
  the block

Quick Take

  • Dapper Labs reportedly laid off up to 22% of its workforce in an apparent restructuring.

Dapper Labs laid off almost one-quarter of its employees, Senior Vice President of Marketing Dave Feldman confirmed on Twitter, as the company grapples with plunging NFT trading volumes.  

Almost 22% of Dapper Labs’ staff — or, 134 out of a total workforce of 613 — was laid off as part of a larger reorganization strategy, BetaKit first reported.

Feldman on Twitter called the reorganization a "difficult day."

As Dapper reorganizes, NFT trading volume across gaming, art, and collectible markets, in which the company holds significant financial stakes, declined since a high last May, based on data from The Block Research.


© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.