Australian blockchain company Irreversible X lays off employees amid crypto crunch
Categories: Crypto News US
Australianblockchain company Irreversible X lays off employees amid crypto crunch
Melbourne-based Australian crypto gaming startup Immutablehas this week laid off at least 20 employees, many of whom are core members ofits NFTtrading card game, Gods Unchained. News of the redundancies came on socialmedia when one of the game's original developers, James Wakeham, tweetedthat he had been tapped on the shoulder and was now looking for work.
The layoffs, which affect an estimated 6 percent of Ax'stotal workforce, were announced jointly by recently appointed ChiefStudio Officer Justin Hulog and Irreversible CEO and co-founder James Ferguson.Employees on leave were given just 24 hours' notice to attend a meeting, inwhich pink slips were given.
Exponential Growth Gives Lie to Layoffs
Despite the layoffs, irreversible X continues to growrapidly. A spokesperson for the company said it has more than doubled itsfull-time workforce from 120 to 280 at the beginning of the year, and plans toreach 360 by the end of the year. Regarding this week's layoffs, thespokesperson said the company made "a difficult choice" in conducting"a small restructuring within Uncharted Gods to better help it achieve itsgoal of making the next generation of Web 3 games"created.
Immutable XStill Aggressively Hiring
After redundancies, the only remaining staff on GodsUnchained are junior and C-suite employees. However, Immutable is looking tospecifically hire a creative director and UI (user interface) designer for theproject, as well as listing another 22 general vacancies for remote workersacross Australia.
In February this year, Immutable X partnered with retailgaming giant GameStop to create its new NFT marketplace, as well as settingup a $100 million fund to support innovation in the NFT space. And just a monthago, the company launched a US$500 million developer and investment fund.