Solana game developer Automata announces mass layoffs

10 months ago 74

"It is with a dense bosom that I americium penning contiguous to stock quality astir squad restructuring efforts we are effectuating today," wrote CEO and co-founder Michael Wagner.

Solana crippled  developer Automata announces wide    layoffs

Solana crippled developer Automata (ATMTA) volition acquisition "a important headcount reduction" to sphere its quality to make Star Atlas. After the restructuring, the Automata squad volition comprise conscionable 45 staff, compared to 235 successful precocious 2022.

According to the July 24 announcement connected Discord, Michael Wagner, CEO and co-founder of ATMTA, said the restructured squad volition alternatively displacement its absorption to "delivering SAGE and the recently announced Crew Mobile App." Meanwhile, the improvement of a bundle improvement kit (SDK) combining Unreal Engine 5 and Solana volition "resume astatine a importantly slower pace." The SDK serves arsenic the ground for the Star Atlas game.

In explaining the changes, Wagner wrote that astir 33% of the project's gross was taken arsenic in-game token Atlas, which the squad "steadfastly held." The token has mislaid astir 80% of its worth successful the past year. In addition:

"We besides had to wage a worldly taxation liability approaching $30 million. And arsenic galore of you already know, we mislaid astir $15 cardinal from our treasury with the illness of FTX, which represented a important information of our liquid currency balance."

Developers said that the squad managed to retrieve a "sizable portion" of the FTX funds successful January, but runway remains "greatly reduced." Wagner besides stated that it was "unlikely" for the task to adjacent an equity and indebtedness financing woody signed successful January.

"It is simply a hard information that our existent precocious complaint of AAA-quality improvement is superior intensive and, astatine present, unsustainable without a important displacement successful concern strategy."

At the aforesaid time, the Solana blockchain recorded all-time precocious usage successful the archetypal fractional of 2023. The web had a 100% uptime successful Q2. The Solana Foundation introduced grants to enactment the ecosystem earlier this year. 

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