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NFT fantasy sports startup Sorare lays off 13% of staff as web3 gaming continues to sputter
The company said the layoffs aren't for financial reasons but the web3 sector has seen funding and interest decline.
Web3-enabled fantasy sports platform Sorare laid off 22 employees based in its New York office in February. The move comes as the startup wants certain teams to be concentrated at the company’s Paris headquarters to improve communication and efficiency, a source familiar with the matter told TechCrunch. Last month, video game-focused VCs told TechCrunch that the market for web3 games turned out to be significantly smaller than some investors had hoped.
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