NFT game studio Immutable has reduced its staff to more than 20 employees. Reported by The Block with reference to its own sources.

The layoffs have affected about 8% of the company’s employees, according to its LinkedIn profile, which has so far listed 310 people.

The project is known for its blockchain games Gods Unchained and Guild of Guardians, as well as its own second-level Ethereum protocol, Immutable X.

According to the interlocutors of the publication, the discounts mostly affected the Gods Unchained flagship team and the recruiting department.

The layoffs at Immutable were confirmed by industry media outlet Kotaku. Journalists noticed that one of the game’s leading developers announced on Twitter that he was looking for a job. According to him, the studio cut “a bunch of people.”

The bad news is me and a group of people were laid off at Immutable. I am a senior game designer with 7+ years of experience and 4+ years of live service TCG design leading. Any help with things would be very helpful. message me. Help me feed my cat Oscar! (Oscar doesn’t need a job) pic.twitter.com/LQVgdRmKhv

— James Wakeham (@VideoJamesDev) 26 July 2022

The company said it was “a minor reorganization of the Gods Unchained team to help achieve its goal of creating the next-gen Web3 game.” A comment to Kotaku also claims that Immutable continues to “actively recruit.”

“It was a difficult choice made after thoughtful consideration. We hate losing our team members and will ensure a smooth transition for those affected by the restructuring. “Immutable started the year with 120 employees and now has 280 employees.”

In September 2021, Immutable raised $12.5 million from an IMX token sale on the CoinList platform. The sale ended in less than an hour.

That same month, the firm closed its $60 million Series B funding round led by Bitkraft Ventures and King River Capital.

In March 2022, Immutable raised $200 million in a Series C investment round at a valuation of $2.5 billion.

In June, the company announced the launch of a $500 million ecosystem fund to provide Immutable X-based funding to Web3 game developers and NFT-focused startups. The company had previously created a similar structure with its gaming portal Kongregate, with a budget of $40 million.

Recall that in February, the American retail network GameStop for the sale of game consoles and computer games announced the launch of an NFT market based on Immutable’s L2 solution. The partners even announced the creation of a joint fund for $100 million of IMX tokens.

The beta version of the platform was released in March, but the retailer chose a different layer two protocol for it – Loopring.

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