Dapper Labs

Dapper Labs, the blockchain company behind NBA Top Shot, laid off approximately 51 employees, representing around 12% of its workforce, in November 2023. The layoffs were part of a restructuring effort to streamline operations and focus on core products, reflecting broader challenges in the cryptocurrency and NFT industry. The company, which had grown rapidly, aimed to achieve a more sustainable cost structure amid shifting market conditions.

Dapper Labs representing approximately 20% of its workforce on 2023-02-23.

Dapper Labs, the Vancouver-based blockchain company behind NBA Top Shot, has laid off approximately 134 employees, representing 22% of its workforce of 613. The layoffs, confirmed this week, are part of a strategic reorganization to address operational challenges from rapid growth and a refocus on sustainable product strategy. CEO Roham Gharegozlou cited the need for greater alignment and nimbleness, while also acknowledging the impact of macroeconomic headwinds and a significant downturn in the NFT market, where trading volumes have plunged. This move follows a pattern of tech companies scaling back after periods of aggressive expansion.