The move-to-earn blockchain game has seen a significant drop in its user base and its rewards token has taken a decline due to the cryptocurrency market conditions.
Solana (SOL) blockchain-based move-to-earn fitness app STEPN is reportedly laying off over 100 of its contract workers amid the ongoing crypto bear market and as its user numbers dwindle from previous highs.
Moderators and ambassadors will be among the sacked staff, and investment in STEPN will be scaled back according to crypto reporter Colin Wu.
There will also be a shift toward promoting STEPN’s parent company Find Satoshi Lab (FSL) and its new projects, Wu claimed, citing community sources.
The famous blockchain game STEPN began to lay off staff in the bear market. It will mainly lay off more than 100 MODs, ambassadors, etc., and will reduce investment in STEPN, and some development progress has been delayed. According to community sources.
— Wu Blockchain (@WuBlockchain) October 12, 2022
Cointelegraph contacted STEPN for comment but did not receive a response before publication.
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