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Yuga Labs Declares Restructuring of the Team and Concentration on Web3 Platform Components
Popular NFT initiatives such as Meebits and 10KTF were developed by Yuga Labs, which has since restructured its team and implemented layoffs. Presently, the organisation will concentrate on the development of Web3 platform components and Otherside, a novel gaming platform that will leverage the expertise of its current NFT teams. Additionally, the organisation has extended assistance and remuneration to the impacted staff.
Yuga Labs, as reported by Foresight News, has reportedly declared a team restructuring in which a number of positions have been eliminated and employees have departed. Presently, the organization's internal development efforts will be concentrated on Otherside and Web3 platform components. Through strategic alliances with third parties, the Otherside team intends to launch a novel gaming experience by 2024; the platform is scheduled to debut in the same year. The 10KTF and Meebits teams will undergo a reorganisation in order to merge with Otherside.
Yuga Labs has initiated a comprehensive employee separation package encompassing severance pay, COBRA insurance, and support in securing alternative employment. Additionally, meetings have been conducted with affected personnel, department heads, and human resources departments.
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