On January 6, 2023, the crypto NFT marketplace SuperRare laid off 30% of its staff. CEO John Crain announced the cuts via a Slack message, citing unsustainable aggressive growth during the recent bull market and taking responsibility for over-hiring. The company, which focuses on working with artists and had raised a $9 million Series A in 2021, is facing broader industry headwinds, similar to larger competitor OpenSea, which also conducted layoffs. This move reflects the ongoing challenges in the crypto and NFT sector during a market downturn.
