NFT token exchange SuperRare announced a 30% job cut, while CEO John Crain explained that the company had accidentally overhired during the recent bull run.
In a tweet on Jan. 7, Crain sharedA screenshot of his message to SuperRare’s Slack channel announcing 30% staff cuts.
“Startup is about balancing rapid growth. while having to do whatever it takes to preserve the limited resources. in the past bull We have been growing along with the market, but over the past few months It was clear that this growth was unsustainable. in which we are employing too much And I take full responsibility for this mistake.”
Crain did not specify how the layoffs would be compensated. but stated that the company would “Do everything you can to help them transition to new opportunities and support them in their future endeavors.”
SuperRare is one of the most popular NFT exchanges, but its trading volume is significantly less than other NFT exchanges such as OpenSea and Magic Eden.
followinformationAccording to DappRadar, SuperRare has traded $663,000 over the past 30 days, compared to OpenSea’s 30-day trading volume of $307 million and Magic Eden’s $80.1 million.
Crain concluded that despite slowing growth during the bear market, SuperRare remains focused on driving with a vision of embracing more digital artists.
“We are facing obstacles – but there are still incredible opportunities as we continue to innovate entirely: a global digital art renaissance that is transparent, fair and accessible to everyone from anywhere in the world.”
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