Why NFT Marketplace SuperRare is firing 30% of its workforce
NFT startup SuperRare has begun taking drastic measures to stay in business in the face of an extended crypto winter, giving the pink slip to some members of its workforce.
According to the content of a screenshot recently shared on Twitter, CEO John Crain said he is now taking full ownership of the non-fungible token marketplace, and one of his first actions is to “right-size” the company’s team.
In doing so, SuperRare will have to say goodbye to 30% of their employees although Crain’s was quick to clarify that the decision was simply a corrective measure for their overstaffing which is now beginning to negatively affect day-to-day operations.
Still, speculation is rife as some believe this could still be part of the winter glut that has ravaged the digital asset industry.
Steering the NFT Marketplace in the right direction
As he takes full ownership of SuperRare, which completed a $9 million Series A round led by Velvet Sea Ventures and 1confirmation back in March 2021, Crain has shared some of his plans to ensure the company will continue to be the destination for the best the crypto species. in the world.
The CEO said that various aspects of the startup, such as Web3, NFT articles, DeFi and finance, are in need of changed reforms and innovations.
Such are necessary as SuperRare embarks on a journey to establish a transparent and fair global digital art renaissance that can be accessed by anyone from anywhere in the world.
Expressing optimism amid this challenging time for the crypto market, Crain said:
“When the global economy is uncertain, our mission to build the foundation for new peer-to-peer economies feels more urgent and important than ever. Winter is our time to build.”
Meanwhile, the NFT marketplace — which has drawn contributions from the likes of Hollywood celebrity Ashton Kutcher, Marc Benioff and billionaire Mark Cuban — has yet to disclose the exact number of individuals that will be removed from its umbrella of dedicated team members.
Crypto total market cap at $784 billion on the weekend chart | Chart: TradingView.com
SuperRare joins the Lay-Off Party
During the earlier part of 2022, Devin Finzer, CEO and co-founder of SuperRare’s other NFT marketplace OpenSea announced that it has been put in a position where it needed to let go of around 20% of its employees.
Cryptocurrency-focused companies, such as Huobi, are also in the same boat as corporate counsel Justin Sun revealed plans to reduce their own workforce by 20%.
Silvegate, a crypto-dedicated bank, also had no choice but to do so say goodbye to 200 workerswhich makes up 40% of the total workforce, following the events that led to the collapse of the crypto exchange FTX.
– Featured Image: SuperRare
