{"id":70288,"date":"2022-11-18T14:13:19","date_gmt":"2022-11-18T12:13:19","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=70288"},"modified":"2025-09-08T01:10:26","modified_gmt":"2025-09-07T22:10:26","slug":"solana-based-metaplex-nft-marketplace-cuts-staff-amid-ftx-collapse","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/solana-based-metaplex-nft-marketplace-cuts-staff-amid-ftx-collapse\/","title":{"rendered":"Solana-based Metaplex NFT marketplace cuts staff amid FTX collapse"},"content":{"rendered":"<p>The NFT protocol development studio Metaplex, from the Solana ecosystem, has laid off an undisclosed number of employees due to worsening market conditions, according to co-founder and CEO Stephen Hess.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">(1\/7) Today we made the difficult decision to part ways with several members of the Metaplex Studios team.<\/p>\n<p>\u2014 stephen.sol (@meta_hess) <a href=\"https:\/\/twitter.com\/meta_hess\/status\/1593326643170480130?ref_src=twsrc%5Etfw\">November 17, 2022<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;Although our treasury was not directly affected by the <a href=\"https:\/\/u1f987.com\/en\/news\/ftx-group-files-for-bankruptcy-sam-bankman-fried-resigns-as-ceo\">FTX collapse<\/a>, and the fundamentals remain strong, the indirect impact on the market has been significant and requires a more conservative approach,&#8221; he wrote.<\/p>\n<\/blockquote>\n<p>According to Hess, Metaplex as the foundational layer of the Solana NFT ecosystem &#8220;must ensure the long-term sustainability of the protocol for the benefit of the community&#8221;.<\/p>\n<p>In the near term, the team will focus on several initiatives in royalties accrual, expanding capabilities for NFT creators, and improving developer tools and the <span data-descr=\"software development kit\" class=\"old_tooltip\">SDK<\/span>.<\/p>\n<p>In January, the Metaplex Foundation <a href=\"https:\/\/u1f987.com\/en\/news\/metaplex-raises-46-million-from-multicoin-capital-and-jump-crypto\">raised $46 million<\/a> as part of the first financing round.<\/p>\n<p>In September, analysts noted a sharp <a href=\"https:\/\/u1f987.com\/en\/news\/solana-nft-mint-volume-tops-300000-tokens\">rise in the number of Solana-issued collectible assets<\/a>, despite the overall cooling of the non-fungible token market. At that time, Hess suggested that a low barrier to entry for creators played a significant role.<\/p>\n<p>As reported in October, the Metaplex token (MPLX) <a href=\"https:\/\/u1f987.com\/en\/news\/metaplex-nft-token-slides-after-airdrop-announcement\">fell 60%<\/a> after the platform&#8217;s second airdrop was announced.<\/p>\n<p>Follow ForkLog&#8217;s Bitcoin news on our <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The NFT protocol development studio Metaplex, from the Solana ecosystem, laid off an undisclosed number of employees due to worsening market conditions, according to co-founder and CEO Stephen Hess.<\/p>\n","protected":false},"author":1,"featured_media":70289,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[83,2280,1213],"class_list":["post-70288","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-business","tag-metaplex","tag-nft"],"aioseo_notices":[],"amp_enabled":true,"views":"21","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/70288","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=70288"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/70288\/revisions"}],"predecessor-version":[{"id":70290,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/70288\/revisions\/70290"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/70289"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=70288"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=70288"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=70288"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}