Yuga Labs Layoffs = More Crypto-Native Innovation and Success (Hopefully?)

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Right here’s a sizzling take to begin off ya Monday:

It’s simpler for a web2 firm to maneuver into web3 than a web3-native firm to search out related success in its personal business.

We’ve written about this earlier than once we noticed corporations like Nike transfer into web3, or when Gucci began accepting ApeCoin.

And right now we’re right here with one other instance (this time it’s disappointing information, however there might be gentle on the finish of the tunnel).

ICYMI: round a 12 months in the past, Yuga Labs (the workforce behind NFT tasks like Bored Ape Yacht Membership) employed the Harvard-educated, ex-CEO of Activision Blizzard, Daniel Alegre.

Six months later, a slew of layoffs have been made at Yuga.

Then, in February this 12 months, co-founder Greg Solano took over as CEO.

Now, Solano has introduced a brand new spherical of layoffs, stating:

“To place it merely: Yuga misplaced its approach. Getting ourselves centered and on the suitable path means being a smaller, extra agile and cryptonative workforce,” and mentioning that Yuga’s unique, artistic spirit has been partially squashed by “labyrinthine company processes.”

(A delicate jab on the earlier CEO’s administration fashion).

Right here’s the excellent news in all of this:

Yuga Labs nonetheless has a robust workforce and even stronger battle chest to assist them navigate a web2-dominated world.

And whereas we hate to see corporations within the area laying people off, it occurs on a regular basis for web2 corporations.

(This ain’t a uncommon occasion).

Right here’s hoping it leads to extra construction, extra path, and extra innovation from the Yuga Staff.

Fingers crossed 🤞