The game studio ATMTA of the blockchain game Star Atlas announced a restructuring and layoffs

ChainCatcher news, Solana ecosystem game metaverse Star Atlas development studio ATMTA revealed that it will undergo a major restructuring to cope with the challenging market environment. The company's CEO stated, "ATMTA is undergoing significant layoffs to maintain its long-term ability to develop Star Atlas, prioritizing our SAGE and mobile products, which may show better results in a shorter time, while extending the development time of our other products."

The remaining core team will consist of 45 people, down from a peak of 235 at the end of 2022, and reduced to 167 after the FTX incident. After the restructuring, ATMTA will operate with a more streamlined team.

Previously, ChainCatcher reported last November that Star Atlas founder Michael Wagner stated that the Star Atlas development studio ATMTA had significant cash deposit exposure at FTX, and after FTX filed for bankruptcy reorganization, the project's cash runway would be cut in half. Despite the market turmoil, the company still has a "strong balance sheet"; it is preparing for structural reforms within ATMTA to ensure the ongoing viability of the Star Atlas vision.

Additionally, the crypto data platform RootData shows that Star Atlas investors include institutions such as Bixin Ventures, Sino Global Capital, and Animoca Brands.