According to sources, Candy Digital has laid off more than one-third of its 100-person team this year due to fluctuating crypto market conditions and a huge decline in NFT trading volumes.
It should be mentioned that investors of Candy Digital include:
- Fanatics, a sports e-commerce shop,
- Mike Novogratz, the CEO of Galaxy Digital and
- Gary Vaynerchuk, a crypto-friendly businessman
WWE, Netflix, Major League Baseball and are among its partners. However, the reason for the layoff and whose departments have been impacted is unknown. Candy Digital’s former community content manager, Matthew Muntner, verified the news on Twitter.
I hate that I have to share this as much as I loved my job at @CandyDigital but I was part of the layoffs that occurred earlier today.
I am quickly looking for a new role in Community Management, Graphic Design, or related Marketing.
Thanks, Candy Fam for one hell of a ride ❤️
— Muntner (@muntnerdesigns) November 28, 2022
Other well-known Corporations are Downsizing their Workforce
The announcement came after Twitter, the social media powerhouse, let off almost half its workers in the aftermath of Tesla owner Elon Musk’s purchase. Lyft and Stripe, located in California, recently announced layoffs, reducing their staff by 13% and 14%, respectively.
Furthermore, both Apple and Amazon have implemented employment freezes.
Moreover, on November 17, Metaplex, an NFT protocol, announced a company-wide wave of layoffs, while Dapper Labs, which invented the NFT marketplace NBA Top Shot, is cutting off 22% of its personnel, blaming the macroeconomic situation.’
About Candy Digital
Candy is a digital collectable firm that provides digital materials to fans and collectors. This NFT platform provides digital collectables that may take fans to the next level by allowing individuals to buy and trade NFTs to develop their passion for sports, entertainment, and culture.