Sky Mavis, the company behind the popular Web3 game Axie Infinity, has announced a significant reduction in its workforce, laying off 21% of its employees. Co-founder and CEO Trung Nguyen clarified that this decision was not financially motivated but rather a strategic move aimed at enhancing the company's focus on core products as they position for growth in 2025. Despite the challenging nature of such layoffs, Nguyen noted that the past year had been one of valuable growth for the firm. Sky Mavis plans to concentrate on key initiatives including the Ronin Wallet, Mavis Marketplace, Axie Infinity, Web3 game publishing, and the expansion of its Ronin Network. The company is also developing a new Axie game. This restructuring occurs amid broader layoffs in the crypto industry, with recent job cuts seen at other companies like Kraken and DYDX, despite the rising prices of cryptocurrencies like Bitcoin and changing regulations in the U.S.

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