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ATMTA, the blockchain gaming and metaverse improvement studio, at this time introduced plans to restructure its group. The studio let go of greater than 120 builders of Star Atlas, a metaverse area exploration blockchain sport at present in improvement.
Star Atlas is a grand technique sport of area 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 value of Star Atlas NFT ships.
In a letter shared with the Star Atlas group on Discord, Star Atlas CEO & co-founder Michael Wagner introduced that ATMTA needed to make a “arduous resolution” to let go of the builders of Star Atlas.
This isn’t the corporate’s first restructuring. ATMTA downsized its group from a peak of 235 in late 2022 to 167 after struggling a blow from the collapse of FTX. After the newest restructuring, solely 45 workers will stay within the Star Atlas core group.
Wagner stated that the remaining group members will deal with delivering the upcoming SAGE browser sport and the newly introduced Crew Cell App. The CORE graphic novel can even proceed to be launched. The group can be getting ready to launch Star Atlas’ DAC (Decentralised Autonomous Company) platform, which can host guilds and clans of the sport.
Improvement of the Unreal Engine 5 Star Atlas sport will proceed, albeit at a slower tempo, and future releases will nonetheless be produced. The corporate stated the downsizing would supply an extended runway for uninterrupted improvement and a number of product launches whereas making Star Atlas extra enticing to VCs.
“We additionally consider that with a smaller footprint, extra targeted strategy, and drastically lowered burn price, we can extra readily entice capital investments which will allow us to ramp up manufacturing on extra product traces,” Wagner wrote in a letter to the Star Atlas group.
In a tweet, gaming YouTuber cagyjan inspired VCs to “take the leap of religion” in Star Atlas to “make a large AAA sport with a very full-on chain economic system occur.”
🚨BREAKING : @staratlas has gone by way of a significant restructuring.
From 167 workers to 45 workers to maintain the venture going.
Private observe: I encourage VCs to take the leap of religion in Star Atlas. For a sport to encourage a group the way in which 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 demise knell for Solana at the least within the gaming area… 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 “lots of very bearish issues” he thought when he noticed the restructuring announcement. He famous that Star Atlas couldn’t elevate cash whereas many different blockchain video games have been efficiently elevating funds. He additionally believes that the web3 area 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 bought $1.6 million value of the in-game foreign money ATLAS and the POLIS governance token over a three-month interval. The corporate-owned tokens have been bought for causes unknown.
Krigs, the founder and chief editor of Star Atlas information platform, The Hologram, reported that positive-leaning Star Atlas group members speculated that the token gross sales have been ATMTA’s try to extend its improvement runway by way of the yr whereas others believed that one thing “extra nefarious” was taking place.
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