Star Atlas (ATLAS), one of the largest gaming projects on the Solana blockchain, has announced that it is undergoing a major restructuring that includes laying off a significant portion of its staff and prioritizing its near-term products.
Solana-based Web3 cryptocurrency gaming company ATMTA, which runs Star Atlas, said in a statement on its Discord channel that it had to make a “significant staff cut” in order to maintain its long-term capability to continue developing the game.
According to the statement, the move was driven by a combination of factors including a heavy tax bill, the collapse of FTX, which holds a large portion of its treasury, and the difficulty of raising capital in current market conditions.
“Our remaining core team will consist of 45 people, this number had dropped to 235 in late 2022 and to 167 after post-FTX reductions,” said Michael Wagner, CEO and co-founder of Star Atlas.
He added that the restructured team will focus on delivering SAGE, a browser-based version of the game, and the newly announced Crew Mobile App, which allows players to manage their crews and ships.
Wagner also said that the CORE graphic novel that tells the story of Star Atlas will continue to be published, and that the DAC platform, a decentralized content creation system, is almost ready for launch.
Thanking the departing team members, Wagner argued that the restructuring would ensure continued development and ensure stability for multiple product launches.
*Not investment advice.