By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
TechziTechziTechzi
  • Home
  • Community
    • Our Review
    • Join Our Slack community
    • Referral: Richieee
    • Referral: 6 for 6
  • Publications
    • Special Report: SE Asian Startup Funding
    • Top 30 Most Funded Southeast Asia Startups
  • Agencies
  • About
    • About us
    • Contact
Search
© 2023 Techzi . All Rights Reserved.
Reading: Sorare Centralizes Operations in Paris Amidst Web3 Gaming Challenges
Share
Font ResizerAa
TechziTechzi
Font ResizerAa
Search
  • Home
  • Community
    • Our Review
    • Join Our Slack community
    • Referral: Richieee
    • Referral: 6 for 6
  • Publications
    • Special Report: SE Asian Startup Funding
    • Top 30 Most Funded Southeast Asia Startups
  • Agencies
  • About
    • About us
    • Contact
Have an existing account? Sign In
Follow US
© 2023 Techzi . All Rights Reserved.
Crypto & Web3Gaming

Sorare Centralizes Operations in Paris Amidst Web3 Gaming Challenges

Matas Danielevicius
Last updated: March 12, 2024 3:01 am
Matas Danielevicius
Share
2 Min Read
SHARE
  • Sorare lays off 22 employees in New York and centralizes operations in Paris.
  • The decision aims to foster collaboration and efficiency in product development.
  • Sorare plans to hire over 20 positions in Paris within six months.

Contents
Layoffs in the New York officeWeb3 gaming struggles

Layoffs in the New York office

Web3 fantasy sports platform Sorare recently laid off 22 employees from its New York office and asked an additional 11 to relocate to the company’s Paris headquarters. The decision aims to concentrate certain teams, primarily the product development team, in Paris to foster better collaboration and efficiency.

Sorare co-founder and CEO Nicolas Julia stated that the company believes bringing the team together in Paris will allow them to build best-in-class products more effectively across their football, baseball, and basketball offerings.

The company plans to backfill most of the laid-off roles in Paris, intending to hire more than 20 positions in the next six months.

Web3 gaming struggles

The layoffs at Sorare were not financially driven, but the company acknowledges that, like many other web3 companies, the timeline for achieving its growth goals is longer than initially anticipated.

Web3 gaming companies have struggled to find meaningful traction, evident in the significant drop in funding for startups in the category from $26 billion in 2022 to $7 billion in 2023.

Sorare maintains an active community of nearly 13,000 people on Reddit and a dedicated third-party media following.

The company hopes its recent reorganization will be sufficient to navigate the ongoing web3 winter.

TAGGED:div5

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share This Article
Facebook X Copy Link Print
Share
Previous Article Improve Your Mental Health with Sahil Bloom’s Simple Journaling Technique
Next Article Navigating the Tightrope: Capital Efficiency in the Startup World

Subscribe to our newsletter to get our newest articles instantly

Please enable JavaScript in your browser to complete this form.
=

Stay Connected

XFollow
InstagramFollow
YoutubeSubscribe
TiktokFollow

Latest News

Techzi is Pausing
Media December 24, 2024
Twitch Pioneer Emmett Shear Launches Mysterious AI Venture
AI December 24, 2024
OpenAI CEO Labels Musk a ‘Bully’ in Latest Tech Titan Clash
AI December 24, 2024
AI Revolution Could Spark Live Entertainment Boom
Culture December 24, 2024

You Might also Like

Health-Tech

A Chat with Alex and Yulia, the Founders of MedsGo

April 9, 2024
AI

Musk and LeCun Clash Over AI’s Potential and Timeline

April 1, 2024
Food tech

ProfilePrint Raises Funds to Connect Global Agribusinesses

February 12, 2024
AI

Decoding Anthropic’s Claude: The AI Powerhouse

October 24, 2024
Mobility

Grab’s Dominance in Southeast Asia’s Ride-Hailing Market Faces New Challenges

April 18, 2024
Deep Tech

Jio’s 5G Feature Phone Gambit in India’s Smartphone-Resistant Market

July 19, 2024
Hardware

Nvidia Shatters Market Cap Records in Post-Election Rally

November 12, 2024
AI

Mindverse Secures $5M Seed Funding to Revolutionize AI-Powered Personalization

April 15, 2024
FintechVC

Singapore Supply Chain Financing Platform Doxa Bags Funding, Eyes Malaysia Expansion

February 14, 2024
AI

List of Jobs That Cannot Be Replaced by AI

February 12, 2024
Deep Tech

Botsync Raises $5.2M to Boost Manufacturing Automation Software

June 11, 2024
Health-Tech

Richieee Explores Cambrian Bio’s Vision, Reshaping Healthcare through Biotech and AI

August 20, 2024

Techzi

SE Asian tech news: Free & Comprehensive. Read more

Quick Links

  • Logistics
  • Marketplace
  • Mobility
  • Startups
  • VC
  • Food tech
  • Gaming
  • Health-Tech
  • Media
  • Social Media
  • SaaS
  • Travel

Quick Links

  • AI
  • Edutech
  • Climate
  • Creators
  • Crypto & Web3
  • Culture
  • Deep Tech
  • e-Commerce
  • FAANG
  • Fashion
  • Fintech

Techzi Tech Newsletter

FREE and Curated by Tech Insiders

Legal

Privacy Policy

Terms & conditions

TechziTechzi
Follow US
© 2024 Techzi . All Rights Reserved.
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?