NFT platform SuperRare has become one of the companies that cut their staff by 30 percent.
The turbulent processes of the crypto industry are causing crypto projects to downsize. Over the past year, many crypto organizations have sought ways to survive by reducing staff. Citing market conditions, crypto organizations began laying off their employees. The most notable layoff occurred at cryptocurrency exchange Coinbase. Finally, the NFT platform announced that it will cut SuperRare staff by 30 percent.
SuperRare Cited Market Conditions
NFT platform SuperRare decided to cut staff, citing market conditions. The platform will reduce its staff by 30 percent.
The news of the layoffs was confirmed by SuperRare CEO John Crain. Crain announced his company decisions with his post on Twitter.
According to Crain, although the company has shown growth in the last bull market, this has happened aggressively. The CEO stated that aggressive growth is not sustainable. Crain, CEO of the NFT platform, said, “We over-hired and I take full responsibility for this mistake.” said.
Crain stated that he took such a restructuring decision to bring things to the right path and would do whatever he could to help those who were laid off.