Sky Mavix Axes 21% of Manpower

Sky Mavis, the company behind the NFT game Axie Infinity and the Ronin gaming network, has announced significant layoffs.

Co-founder Nguyen Thanh Trung revealed on 23 November via X (formerly known as Twitter) that 21% of the workforce had been let go, describing the move as a "tough decision" unrelated to the company's financial health.

He explained:

“Instead, it is a strategic move that allows for a sharper focus and positioning Sky Mavis for hypergrowth in 2025 and beyond.”

Instead, the layoffs align with a strategic pivot toward long-term goals, including enhancing the Ronin wallet, Mavis Marketplace, Axie Infinity, and a new Axie-related game.

Additionally, the firm aims to expand the Ronin Network and strengthen its Web3 game publishing initiatives.

Sky Mavis Hints at New Game Amidst Brighter Crypto Outlook

Axie Infinity, the play-to-earn game known for its NFT collectibles like artwork and videos, saw a surge in popularity in early 2021.

Looking ahead, Sky Mavis has announced that the next installment of Axie Infinity is set for release in Q1 2025.

A representative shared that the new game will "leverage the lessons and institutional knowledge" gained from the past few years.

The Ronin Network, an Ethereum-based sidechain dedicated to gaming, powers Axie Infinity and other crypto games, with Trung asserting that it is now the third-most-used crypto network.

Trung also addressed the shifting regulatory landscape, likely referencing the potential impact of Donald Trump's presidential campaign, which promises to ease restrictions on digital assets and blockchain companies.

He expressed optimism that favourable crypto policies would spur innovation and drive adoption in the Web3 space, suggesting that these developments are influencing the company's future strategy.

A Sky Mavis representative said noted:

“The bottom line is that the token design space will now massively open up. I believe that’s most bullish for DeFi and gaming, which we believe are the most consequential sectors that have the most long-term substantive value in this industry. We believe this regulatory shift will drive significant adoption, not just for blockchain gaming but for the broader Web3 industry."