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Developer ATMTA of bold area buying and selling and fight sport Star Atlas has introduced a major restructuring that may cut back its headcount to 45 from a post-FTX degree of 167. Previous to the crypto trade going bust in November 2022 and taking $15 million of the corporate’s money with it, ATMTA had 235 employees.
In that context, the developer has misplaced 81% of its employees previously 9 months.
Introduced in 2020, Star Atlas gained prominence as one of many excessive profile video games on the Solana blockchain. The relative decline of Solana when it comes to the overall crypto winter and particularly when it comes to FTX — which was a heavy backer of Solana — has massively impacted the developer, nevertheless.
The complexity of the unique challenge — which has similarities in scope to EVE On-line or Star Citizen — has additionally been a contributing issue.
Nevertheless, ATMTA CEO Michael Wagner has acknowledged he believes the lowered staff can be “absolutely able to delivering on our prioritized merchandise”.
As acknowledged, the main target of the staff will now be on small sport parts equivalent to its SAGE browser-based expertise and the newly introduced move-to-earn Crew Mobile app. It should additionally proceed its CORE graphic novel sequence.
On this approach, the restructure ought to give ATMTA over a yr of runway. Wagner additionally hopes that this restructuring will encourage VCs to take a position right into a extra targeted and extra environment friendly firm which over time will have the ability to scale as much as regain its unique imaginative and prescient over time.
You’ll be able to learn the complete assertion on the Star Atlas Discord.
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