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    Web3 Gaming Startup Sorare Lays Off 13% Amid Sputtering Industry | FinOracle

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Web3 Gaming Startup Sorare Lays Off 13% Amid Sputtering Industry

NFT fantasy sports startup Sorare lays off 13% of staff as web3 gaming struggles. Although not shutting down, the company is shifting more employees to Paris. Web3 companies have lost investor interest, as seen with layoffs at Mythical Games.

by John Darbie
Thu, Mar 7, 2024 4:46am
in Gaming
• 2 mins read
14.8k
Web3 Gaming Startup Sorare Lays Off 13% Amid Sputtering Industry | FinOracle

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NFT Fantasy Sports Startup Sorare Lays off 13% of Staff as Web3 Gaming Faces Challenges

Popular NFT fantasy sports startup Sorare has announced the laying off of 13% of its workforce, with 22 employees from its New York office being affected. However, the company is not shutting down its New York office, but instead plans to centralize certain functions and teams at its Paris headquarters to improve communication and efficiency, particularly within the product development team. Additionally, 11 employees from the New York office have been asked to relocate to Paris.

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