UFC NFT Company Lays Off 22 Percent Of Workforce

Dapper Labs, the blockchain company behind the UFC Strike NFTs, laid off 22 percent of its workforce as part of a broader refocus of its strategy and reorganization. Founder and CEO Roham Gharegozlou sent a letter to team members just before the holidays.

Here’s a snippet:

These reductions are the last thing we want to do, but they are necessary for the long-term health of our business and communities. We know web3 and crypto is the future across a multitude of industries –– with 1000x potential from here in terms of mainstream adoption and impact ––– but today’s macroeconomic environment means we aren’t in full control of the timing.

In addition, our company grew incredibly fast –– from 100 to over 600 employees in less than two years –– introducing operational challenges which prevented us from being as aligned, nimble and community-driven as we need to be. I take responsibility for that, as well as for the difficult decision to do this layoff and restructure our business to better serve our communities.

You can read the full letter right here.

The UFC Strike collectible product is a series of non-fungible token (NFT) images that give combat sports fans “the opportunity to own the most epic, talked-about fight moments in the history of UFC,” but the launch was not without its share of problems.

UFC Strike recently completed its “Second Chance Collection Challenge” online.