Dapper Labs Cuts 51 Jobs Amid Prolonged Crypto Winter in NFT Market


Dapper Labs recently announced a round of layoffs, with 51 employees losing their jobs. This is the third round of layoffs for the company in the last 12 months, with 22% of the workforce being let go in November 2022 and 20% in February of this year.

In a tweet, Roham Gharegozlou, CEO of Dapper Labs, said: “We said goodbye to 51 brilliant colleagues and friends today @dapperlabs… We remain fully dedicated to our core communities and committed to building amazing products that push the world forward together. If you’re looking to hire some of the most incredible people in Web 3 – look no further. We will have a list of individuals to share by Monday (requires opt-in).”

Roham also believes that the restructuring of Dapper Labs will make the business more agile and allow them to do right by their fans and grow their communities.

Unfortunately, the NFT market has not enjoyed the same post-FTX recovery as other sectors of the crypto world. Trading volume remains low, user engagement on marketplaces has decreased, and the value of some blue chip NFT collections has dropped by as much as 80%, with one BAYC NFT awarded to Justin Bieber losing 95% of its value.

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