Yuga Labs CEO Starts Redesign Amidst Layoffs and Reorganization


The development of Yuga’s Otherside metaverse project was emphasised in Solano’s statement from April 26.

Greg Solano, CEO of Yuga Labs, had a tough day, as he told his staff in a message that became public. Even more difficult times came for certain employees when an all-hands meeting revealed layoffs. The loss of its initial focus was the root cause of Yuga’s problems, according to Solano.

Reflecting on his brief time as CEO, Solano expressed his dismay at the decline of the company’s creative culture in an internal communication:

The maze-like corporate procedures have been watering down the creative-first attitude that started this organization from the beginning.

“A despite our care and concern, we find ourselves entangled in committees and organizations.” “We prioritize planning above shipping,” Solano said.

On April 17, Solano detailed the first stages of the reorganization, referencing the separation of HV-MTL and Legends of the Mara.

Faraway, a game developer, recently bought Yuga’s gaming rights and brought Spencer Tucker, Yuga’s chief gaming officer, on board.

According to Solano’s post from April 26, Yuga is putting a lot of effort into building its Otherside metaverse project.

Won Kim became the head of brand relationships at Yuga not long before Solano made his statement. Kim, who helped launch the NFT fund and consultancy firm Bored Room Ventures, is now working for Yuga.

While Solano’s message received tremendous support, the X crypto community as a whole had varied feelings about the layoffs.

In addition to those who agreed, there were also others who disagreed. Ricefarmer was one of the people who claimed to have been fired from Yuga Labs and brought attention to their time spent moderating Discord.

In the face of changing market conditions, Yuga Labs—a pioneer in NFT collectibles—has encountered difficulties. A wave of layoffs was part of the company’s reorganization in October. Yuga Labs refused to give any further information when asked for further comment.

Also Read: Uniswap Launches Robinhood Connect and Making Crypto Purchases Easier

Leave A Reply

Your email address will not be published.