Ukrainian startup DMarket, which operates on the blockchain-a platform for trading in-game items, conducting mass layoffs. The company employed about 160 people, about 25% of them will be reduced.
In DMarket named two reasons for the decision: the situation in the cryptocurrency market and development in new markets.
“The first is the situation in the cryptocurrency market, which now leaves us with much less room to maneuver next year and development trends in the business. The second is the development in new markets and geographies, we are now actively working in the United States, we need the support there, including in the form of venture capital investments, it also poses certain restrictions that must be met. Based on these two objectives, we have on Friday made a final decision on the reduction,” – said co-founder DMarket Volodymyr Panchenko in the comments AIN.UA.
The company assured that they have enough funds for development, so that the financial status of the project is safe. Raised through ICO funds the management of the startup transferred to Fiat.
In the nearest plans DMarket – development in the markets of USA and Asia. The U.S. has already opened the office and there staff is recruited. It is also planned to open a branch in South Korea, but there this process is delayed the negotiations.
DMarket first global marketplace to trade in-game content, which was founded by a member of the Board of Directors of the Ukrainian eSports club Na’vi, Alexander Kokhanovsky and founder of the platform for the trade in virtual items skins.cash Volodymyr Panchenko.
In the course of the ICO, held in two rounds in August and November – Dmarket managed to attract a total amount of about $25 million.
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