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.
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