Dapper Labs, the developer of well-known non-fungible token collection such as NBA Top Shot, is laying off 20% of its full-time employee base to mark its second round of job cuts in less than four months, The Block reported Thursday, citing a document. Roham Gharegozlou, CEO of the NFT powerhouse, announced the layoffs as part of a "corporate restructure," he wrote in an email sent to investors on Wednesday, while noting the company has a "strong cash position with no outstanding debt." Similarly, cryptocurrency analytics firm Messari earlier said it reduced its headcount by 15% amid the company's restructuring effort. In the midst of a market downturn, Dapper reduced 22% of its workforce in November 2022, The Block noted . In October, Dapper Labs restricted payment services for NFT owners whose accounts were tied to Russia following the European Union's sanctions against the country .
