In Brief
ATMTA, a prominent player in blockchain gaming and metaverse platforms, has publicized its strategy for team restructuring.
The firm has made the difficult choice to part ways with over 120 builders associated with Star Atlas, a blockchain game set in an expansive metaverse focusing on space exploration.
The progress of the Unreal Engine 5-powered Star Atlas game is expected to slow down significantly.
Today, ATMTA, the studio behind blockchain and metaverse gaming, announced an extensive reorganization, letting go of a significant number of builders who were working on Star Atlas, a metaverse game currently in the works.
Star Atlas is an ambitious grand strategy game that revolves around exploring space, claiming territory, and establishing political power, all on the Solana blockchain. Launched in January 2022, Star Atlas… announced that Animoca Brands recently acquired more than $3 million worth of NFT ships from Star Atlas.
In a message to the Star Atlas community via Discord, the CEO and co-founder shared that ATMTA faced a tough decision to let go of some of the builders behind Star Atlas. Michael Wagner This isn’t the first time the company has had to downsize. In fact, after peaking at 235 employees in late 2022, ATMTA has reduced its workforce to 167 due to setbacks following the FTX collapse. With this latest round of layoffs, only 45 members remain in the core Star Atlas team.
According to Wagner, the reduced team will now concentrate on delivering the upcoming SAGE browser game along with the newly introduced Crew Mobile App. Additionally, the release of the CORE graphic novel will continue as planned. The team is also gearing up for the launch of Star Atlas’ Decentralized Autonomous Corporation (DAC) platform, which will cater to the game’s guilds and clans.
While development of the Unreal Engine 5 iteration of Star Atlas will persist, it will be at a more measured pace, and there are still plans for future releases. The aim of this downsizing is to ensure a lengthier timeline for continuous development and product launches, ultimately making Star Atlas more appealing to venture capitalists. DAC Wagner expressed in a letter to the Star Atlas community that they believe a smaller, more focused team with lower expenses could attract the necessary capital investments to ramp up production on additional product lines.
In a tweet, gaming content creator cagyjan urged investors to take a chance on Star Atlas, highlighting the potential for creating a top-tier AAA game with a fully integrated in-game economy.
The company has undergone a notable reorganization recently.
The team has shrunk from 167 employees down to just 45 to ensure the project continues moving forward.
🚨BREAKING : @staratlas Personal observation: I encourage investors to embrace the potential of Star Atlas. A game that has sparked such passion in its community like Star Atlas has is truly special, and it’s worth supporting…
Reflecting on the restructuring, Andrew Wall, executive producer at Illuvium, commented, \”This could signal serious trouble for Solana, especially within the gaming sphere… Previously, the success of Star Atlas was seen as pivotal to the gaming metaverse vision for Solana. There was a belief that Star Atlas would drive substantial NFT engagement in our ecosystem. Clearly, that’s not on the horizon anymore.\”
Wall went on to express that he had negative thoughts upon hearing about the restructuring, noting how Star Atlas struggles to attract funding while similar blockchain titles manage to secure investments. He also suggested that the web3 landscape might be mirroring the decline seen during the dotcom bubble burst. pic.twitter.com/iZ671db3JK
— cagy (@cagyjan1) July 25, 2023
Financial difficulties for both ATMTA and Star Atlas became apparent back in April, indicating issues with their in-game currency ATLAS and the POLIS governance token over a recent quarter. The reasons for selling their own tokens remained unclear. said :
Krigs, the founder and chief editor of the Star Atlas news source, The Hologram, reported that while some optimistic community members believed ATMTA was simply trying to extend their development timeline, others speculated that more troubling matters might be at play.
Please keep in mind that the information offered here is not meant as legal, tax, investment, or any other form of professional advice. Only invest what you can afford to lose and consult independent financial advisors if you’re uncertain. For more details, we recommend reviewing the terms and conditions as well as the support resources provided by the issuer or advertiser. Metaverse Post pledges to deliver precise and impartial reporting, yet market dynamics can change unexpectedly.
Cindy, a journalist at Metaverse Post, focuses on web3, NFTs, the metaverse, and AI topics, often highlighting interviews with leaders in the Web3 space. Having spoken with over 30 high-level executives, she brings a wealth of insights to the audience. Originally from Singapore, Cindy is now based in Tbilisi, Georgia, and holds a Bachelor’s degree in Communications & Media Studies from the University of South Australia, boasting a decade of expertise in journalism and writing. sold $1.6 million with various press releases, announcements, and interview requests.
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