Dapper Labs, creator of NBA Top Shot, exemplified the NFT boom-bust cycle's impact on workers. The company rapidly hired to over 600 employees then cut ~60% across three rounds in 8 months. The SEC investigated Dapper Labs for NBA Top Shot but closed the case in September 2023 without charges. Some July 2023 layoffs were converted to part-time roles. The remaining Flow Foundation team shrank from ~200 to under 180 by April 2024 through continued attrition.
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FLOW blockchain (created by Dapper Labs) announced a $1 million token grant program in February 2022 specifically for Black developers, platforms, and creators building dApps. Beyond the grant, recipients receive "promotional and customized support from a team and network of experts including technical, design, product, and marketing." The company also hosted a BootCamp for Black developers and partnered with Umba Daima, an NFT art studio, for a Web3 event series in Atlanta.
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Dapper Labs — DEI: SUPPORTED FLOW blockchain (created by Dapper Labs) announced a $1 million token grant program in February 2022 specifically for Black developers, platforms, and creators building dApps. B… https://reciepts.tech/stance/1689
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See all →Dapper Labs executed three major layoff rounds between November 2022 and July 2023: 22% (134 employees) in November 2022, 20% (94 employees) in February 2023, and 15% (51 employees) in July 2023. The company grew from 100 to over 600 employees in less than two years before the NFT market collapsed, with trading volume dropping 97% from January 2022 peak. CEO Roham Gharegozlou cited the need to restructure amid the crypto winter. By April 2024, headcount had shrunk further to fewer than 180.