Yuga Labs Undergoes Restructuring, Reduces Team Size

According to PANews, Yuga Labs, a prominent player in the crypto industry, is undergoing a significant restructuring process. As part of this process, the company has reduced its team size. The news was announced by Greg Solano, the co-founder of Yuga Labs who took over as CEO in February this year. Solano made the announcement via social media, stating that Yuga Labs had 'lost its direction' and would now focus on building a 'smaller, more flexible crypto-native team'. Solano also revealed that some of the company's plans have already been put into action. Farawaygg, a Web3 game development company, will allow Yuga to focus on the development of the 3D Otherside game. More details about this plan will be announced soon. The restructuring is seen as a strategic move to streamline operations and refocus the company's efforts on its core competencies in the rapidly evolving crypto industry.