Blockchain Game Studio Cuts 10% Of Staff Amid Downturn
Blockchain games haven’t caught on despite billions in investment
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Mythical Games, a blockchain video game company that has raised more than $270 million in venture capital, laid off 10% of its staff and lost three top executives this week.
The layoffs at a company once valued at $1.25 billion are reflective of widespread disinterest in so-called play-to-earn video games, which promise players the opportunity to buy and sell in-game goods for real-life cash using blockchain and nonfungible tokens.