Yuga Labs announce workforce streamlining in response to downturn in #NFT market.

Yuga Labs reduces its workforce and focuses on its core initiatives. The move comes amid the record market downturn currently affecting the broad NFT space.

The CEO points out that the team has spread too thin by working on numerous projects, particularly those outside its expertise. The exact number of affected employees is undisclosed.

Furthermore, the company intends to provide comprehensive support to affected employees, including severance packages and recommendations.