) marketplace Magic Eden on Monday announced that it would be laying off 22 members of its staff as part of a"company-wide restructuring."
In a message posted to Twitter, CEO and co-founder Jack Lu explained that the company needed to make changes to its team in order to reach new goals in 2023. "Just fifteen months ago, we were searching for product-market fit on Solana," Lu wrote."Since then, our business has grown significantly and the nature of our challenges has evolved. Our focus areas for 2023 include growing traction across chains, developing services for NFT creators, and exploring new use cases like rewards and social experiences. As we established these priorities for the year, we had to take a hard look at what structure and roles are needed.
Lu said that many of the platform's products are"entering new stages of growth" and pledged to help affected employees during their transition.
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