Specifically, in a recent announcement, Sky Mavis co-founder Nguyen Thanh Trung revealed: to focus on core products, the company needs to be flexible and change priorities. Therefore, the company will cut a series of staff.
The decision is understood to be unrelated to the company’s budget or financial situation, and is a move that will allow for clearer focus and position Sky Mavis for growth in 2025 and beyond.
There is currently no information about the department that will be downsized or the downsizing process, however the company confirmed that employees will receive severance pay as well as support in finding new jobs.
The reasons given are: the company decided to focus on the goals of Ronin Wallet, Mavis Marketplace, expanding the Ronin blockchain to attract more developers as well as releasing more Web3 games.
The decision was announced in the context of the cryptocurrency market recovering and Bitcoin approaching the $100,000 mark. After the announcement, Ronin's Ron coin increased by 15%, bringing the market capitalization to more than $600 million, while the AXS coin associated with the game AXie Infinity increased by more than 20%, reaching $1.24 billion on November 24. Previously, Sky Mavis was also one of the few startups with a Vietnamese founder valued at over $1 billion.
Sky Mavis was founded in 2018 by Nguyen Thanh Trung, Tu Doan, Viet Anh and two foreign members Aleksander Larsen and Jeffrey Zirlin. According to 2023, the company has about 250 employees globally, of which 200 are in the office in Vietnam.
Source: https://kinhtedothi.vn/startup-viet-sky-mavis-sa-thai-21-nhan-su.html
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