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ATMTA, the blockchain gaming and metaverse improvement studio, at present introduced plans to restructure its crew. The studio laid off greater than 120 builders of Star Atlas, a metaverse house exploration blockchain recreation at present in improvement.
Star Atlas is a grand technique recreation of house exploration, territorial conquest, and political domination, constructed on the Solana blockchain. In Jan 2022, Star Atlas introduced that Animoca Manufacturers had bought over $3 million price of Star Atlas NFT ships.
In a letter shared with the Star Atlas neighborhood on Discord, Star Atlas CEO & co-founder Michael Wagner introduced that ATMTA needed to make a “onerous resolution” to let go of the builders of Star Atlas.
This isn’t the corporate’s first restructuring. ATMTA downsized its crew from a peak of 235 in late 2022 to 167 after struggling a blow from the collapse of FTX. After the most recent restructuring, solely 45 workers will stay within the Star Atlas core crew.
Wagner stated that the remaining crew members will give attention to delivering the upcoming SAGE browser recreation and the newly introduced Crew Cellular App. The CORE graphic novel may even proceed to be launched. The crew can be making ready to launch Star Atlas’ DAC (Decentralised Autonomous Company) platform, which is able to host guilds and clans of the sport.
Improvement of the Unreal Engine 5 Star Atlas recreation will proceed, albeit at a slower tempo, and future releases will nonetheless be produced. The corporate stated the downsizing would offer an extended runway for uninterrupted improvement and a number of product launches whereas making Star Atlas extra enticing to VCs.
“We additionally imagine that with a smaller footprint, extra targeted strategy, and drastically lowered burn fee, we will extra readily appeal to capital investments which will allow us to ramp up manufacturing on extra product traces,” Wagner wrote in a letter to the Star Atlas neighborhood.
In a tweet, gaming YouTuber cagyjan inspired VCs to “take the leap of religion” in Star Atlas to “make an enormous AAA recreation with a very full-on chain financial system occur.”
🚨BREAKING : @staratlas has gone by a serious restructuring.
From 167 workers to 45 workers to maintain the challenge going.
Private notice: I encourage VCs to take the leap of religion in Star Atlas. For a recreation to encourage a neighborhood the best way Star Atlas has impressed, it’s going… pic.twitter.com/iZ671db3JK
— cagy (@cagyjan1) July 25, 2023
Of the restructuring, Illuvium government producer Andrew Wall stated:
“Sadly, this can be the loss of life knell for Solana a minimum of within the gaming house… It propped the gaming metaverse aspect of Solana on the success of Star Atlas… Everybody in Solana management was speaking about how Star Atlas was the way forward for gaming in metaverse and bringing mass-volume NFT utilization in our ecosystem. Clearly no, that’s not going to occur anytime quickly.”
Wall added that there have been “a number of very bearish issues” he thought when he noticed the restructuring announcement. He famous that Star Atlas couldn’t increase cash whereas many different blockchain video games had been efficiently elevating funds. He additionally believes that the web3 house is seeing the downward trajectory of the dotcom bust for the metaverse.
Monetary troubles for ATMTA and Star Atlas surfaced in April when it was found that the corporate offered $1.6 million price of the in-game forex ATLAS and the POLIS governance token over a three-month interval. The corporate-owned tokens had been offered for causes unknown.
Krigs, the founder and chief editor of Star Atlas information platform, The Hologram, reported that positive-leaning Star Atlas neighborhood members speculated that the token gross sales had been ATMTA’s try to extend its improvement runway by the 12 months whereas others believed that one thing “extra nefarious” was occurring.