Game studio Web3 Mythical Games has laid off 10% of its staff, reports Coindesk. The company does not specify the number of dismissed people.

Side note: A new game from the author of Magic: The Gathering.

Mythical is a next-generation gaming technology studio. The company believes that actual digital asset ownership, verifiable scarcity and integrated secondary markets will spawn a new generation of games.

This new economy, based on digital ownership, will bring players, developers and content creators closer to the games they love. Mythical Games has a team of veteran game and platform developers passionate about getting big, innovative concepts to market.

The company’s goal is to create world-class products that drive the adoption of distributed control technology through games.

Source: Mythical Games

The company hasn’t disclosed the number of employees laid off, but on Mythical’s official LinkedIn page, the number of employees today is 320.

The company cited the economic downturn, exacerbated by a severe crypto-winter, as the reason for the layoffs.

Mythical had to reevaluate and restructure some areas of the business accordingly. As a result, the company made the painful decision to let some team members go.

Mythical Games spokesperson

On November 2, 2022, SVP Chris Ko, COO Matt Nutt and co-founder Rudy Koch announced their departure. This drew attention and raised questions about Mythical’s internal affairs.