Yuga Labs Layoffs = More Crypto-Native Innovation and Success (Hopefully?)

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Right here’s a sizzling take to begin off ya Monday:

It’s simpler for a web2 firm to maneuver into web3 than a web3-native firm to search out comparable success in its personal trade.

We’ve written about this earlier than once we noticed firms like Nike transfer into web3, or when Gucci began accepting ApeCoin.

And at this time we’re right here with one other instance (this time it’s disappointing information, however there may very well be mild on the finish of the tunnel).

ICYMI: round a 12 months in the past, Yuga Labs (the staff behind NFT initiatives like Bored Ape Yacht Membership) employed the Harvard-educated, ex-CEO of Activision Blizzard, Daniel Alegre.

Six months later, a slew of layoffs had been made at Yuga.

Then, in February this 12 months, co-founder Greg Solano took over as CEO.

Now, Solano has introduced a brand new spherical of layoffs, stating:

“To place it merely: Yuga misplaced its approach. Getting ourselves centered and on the correct path means being a smaller, extra agile and cryptonative staff,” and mentioning that Yuga’s unique, inventive spirit has been partially squashed by “labyrinthine company processes.”

(A refined jab on the earlier CEO’s administration type).

Right here’s the excellent news in all of this:

Yuga Labs nonetheless has a powerful staff and even stronger struggle chest to assist them navigate a web2-dominated world.

And whereas we hate to see firms within the house laying of us off, it occurs on a regular basis for web2 firms.

(This ain’t a uncommon occasion).

Right here’s hoping it ends in extra construction, extra course, and extra innovation from the Yuga Group.

Fingers crossed 🤞