Immutable announces new layoffs as crypto prices fall

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The Australian game company Immutable has announced that it will lay off its staff on the God’s Unchained gaming project. In its most recent fundraising round, Immutables got $200 million, and the game studio is now worth $2.5 billion.

As Immutables “fires” several developers and their lead designer, James Wakeham, the lead designer on Gods Unchained, tweeted about how the company “fired” him and “a bunch of other people.”

He and his colleagues are all looking for new jobs right now. Sources say that the firm decided to lay off staff at a meeting on Monday. It has affected about 6% of the staff who worked at the studio.

Concerning the Immutable Gaming Studio?

Immutables Gaming Studio is a layer-2 solution for NFTs and Web3 games anchored on the Ethereum blockchain. TikTok and GameStop are exploring this solution because they recently launched their NFT marketplaces on it.

James Ferguson, CEO, and Co-Founder of Immutable has told his employees not to worry about the current happening, according to a report from CNET. He said that the company is “in a great place.”

Although with the layoffs happened rapidly, Immutable is making it clear that the studio will not stop hiring new staff. They want to hire a team of experts to work on their trading card game, Gods Unchained.

Stepico Games is making a role-playing game called Guild of Guardians. They will also hire new staff while they execute this project.

Immutable’s spokesperson reported that, 

“We are actively hiring more staff for the project, engineering, and tokenomics for Gods Unchained as we work to bring it to the mainstream and beyond.”

The spokesperson also talked about the layoff, saying, “We have decided to do a small reorganization within Gods Unchained to help us reach our goal of making the next generation of web3 games.”

The company went from having 180 employees to having 280 employees, and it is expected to have 360 employees in five months.

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