30s Summary

Sky Mavis, the firm behind web game Axie Infinity and the Ronin blockchain, is letting go of 21% of its staff in a bid to refine its focus for long-term success. Despite a sharp drop in the value of Axie Infinity tokens and non-fungible tokens (NFTs), CEO Trung Nguyen insists the company is financially sound. Future plans include a new Axie Infinity game, further development of the Ronin Wallet, the Mavis Marketplace, publishing more Web3 games, and expansion of the Ronin Network. Affected employees have been given severance packages and job hunting support.

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Sky Mavis, the team behind the popular web game Axie Infinity and the Ronin blockchain, announced they’re letting go of about 21% of their staff. However, don’t worry – Sky Mavis’ CEO, Trung Nguyen, reassured everyone that this wasn’t because of any trouble with the company’s finances. They’re just looking to tighten their focus to make some big moves down the line.

In his recent X post, Trung clarified that these changes aren’t a reflection on any of the employees being let go – it’s just about setting Sky Mavis up for success in the long run. Those affected by this shift have been given severance packages and are being helped with their job hunt.

So, what’s in store for Sky Mavis now? Trung hinted at a new Axie Infinity game, among other projects. He gave few details about this game they’re planning to bring out. They’re also turning their attention to the Ronin Wallet, the Mavis Marketplace, publishing more Web3 games, and growing the Ronin Network. These changes are all about helping the team become more flexible and focused on their products.

As for the financial health of some of their blockchain-based assets, it’s been a bit shaky. For instance, the value of Axie Infinity tokens and non-fungible tokens (NFTs) – known as “Axies” – have seen a major drop. At one point, Axies were selling for more than $700 each in 2022, but now they’re only selling for about $0.33. The native token of the Ronin blockchain, known as RON, has been a little steadier. It did exceptionally well in 2024, peaking at $4.45.