Magic Eden Announces Departure of 22 Employees and Teams Up with MoonPay.

Jack Lu, co-founder of Magic Eden, shared an important update today regarding the organizational changes involving 22 staff members as a result of the company's restructuring efforts. open letter Lu emphasized that to achieve its strategic objectives for 2023, the business needed to adapt its workforce, ensuring that team members possess the requisite skills and expertise to maintain progress. Each individual impacted by these changes was personally informed through dedicated calls, with Lu expressing heartfelt gratitude for their contributions to the company's success.

Magic Eden has committed to helping these departing employees transition smoothly into their next roles by offering them two months’ worth of severance pay, a one-year extension on stock options, continued healthcare support for another six months, and a subscription to the guided meditation app Headspace. Additionally, they are providing complimentary career coaching and job placement services, while allowing employees to keep their company laptops.

The company's priorities for 2023 include increasing engagement across multiple blockchains, enhancing offerings for NFT creators, and investigating innovative use cases such as reward systems and social interactions.

Although Magic Eden is joining other NFT platforms, like SuperRare and OpenSea, in reducing their workforce, the company reassures stakeholders that it remains financially robust and poised for growth, even amid the current market downturn. Last June, Magic Eden achieved unicorn status following a significant $130 million funding round.

Many of our products are entering exciting new phases of development, and we are dedicated to ensuring they are backed by the strongest teams available. fundraise .

Recently, the leading NFT marketplace on Solana has extended its support for digital collectibles connected to web3 gaming after facing challenges following the FTX incident.

Lu wrote in his letter to employees.

In addition to the layoffs, Magic Eden announced a strategic partnership with MoonPay, a provider of Web3 payment infrastructure. This collaboration enables users to purchase NFTs using various payment methods, including credit/debit cards, Apple Pay, and Google Pay. According to Zhuoxun Yin, COO of Magic Eden, the company aims to democratize access to NFTs, allowing individuals to own and manage their digital assets seamlessly. Ethereum in August and Polygon Please remember that the information provided here is not a substitute for legal, tax, investment, or any other professional advice. It's crucial to invest only what you can afford to lose and consult with an independent financial advisor if needed. For detailed guidance, we recommend checking the issuer or advertiser's terms and conditions, as well as their help and support pages. MetaversePost strives for accurate and impartial reporting, though market conditions can fluctuate unexpectedly.

Cindy, a journalist writing for Metaverse Post, delves into topics surrounding web3, NFTs, the metaverse, and AI, with an emphasis on obtaining insights from Web3 industry leaders. Having conducted interviews with over 30 top executives, she shares their valuable perspectives with our readership. Originally from Singapore, Cindy is currently based in Tbilisi, Georgia, and holds a Bachelor's degree in Communications & Media Studies from the University of South Australia, boasting a decade of experience in journalism.