Blockchain recreation and metaverse improvement studio ATMTA in the present day introduced plans to reorganize its crew. The studio has let go of greater than 120 builders of Star Atlas, a Metaverse house exploration blockchain recreation presently in improvement.

Star Atlas is an epic technique recreation of house exploration, territorial conquest and political management constructed on the Solana blockchain. In January 2022, Star Atlas introduced that Animoca Manufacturers had bought a Star Atlas NFT vessel value over $3 million.

In a letter shared with the Star Atlas neighborhood on Discord, the CEO and co-founder of Star Atlas stated: Michael Wagner ATMTA introduced it needed to make a “powerful resolution” to let go of the Star Atlas builder.

This isn’t the corporate’s first restructuring. ATMTA has been hit exhausting by the FTX collapse, shrinking the crew from its peak of 235 to 167 on the finish of 2022. After the most recent reorganization, he would be the solely 45 workers remaining on Star Atlas’ core crew.

Wagner stated the remaining crew members will give attention to delivering the upcoming SAGE browser recreation and the newly introduced Crew cell app. CORE graphic novels will proceed to be launched. The crew can be gearing up for the launch of his DAC (Decentralized Autonomous Company) platform for Star Atlas, which is able to host the sport’s guilds and clans.

Growth of the Unreal Engine 5 Star Atlas recreation will proceed, albeit at a slower tempo, and future releases will proceed to be produced. The corporate stated the downsizing would make Star Atlas extra engaging to VCs whereas additionally offering an extended runway for uninterrupted improvement and a number of product launches.

“We additionally consider that with a smaller footprint, a extra centered method, and a a lot decrease burn price, we are able to extra simply entice capital funding that would probably scale manufacturing throughout extra product traces,” Wagner stated in a letter to the Star Atlas neighborhood.

In a tweet, Gaming YouTuber cagyjan inspired VCs to “bounce with religion” and “make huge AAA video games with a very full chain financial system” for Star Atlas.

🚨BREAKING: @staratlas underwent a large-scale restructuring.

Improve the variety of workers from 167 to 45 to proceed the undertaking.

Private be aware: I encourage VCs to consider in Star Atlas and take the leap. For a recreation to encourage a neighborhood like Star Atlas has impressed… pic.twitter.com/iZ671db3JK

— Kaggy (@cagyjan1) July 25, 2023

Illuvium Government Producer Andrew Wall stated of the restructuring:

“Sadly, this may increasingly portend loss of life for Solana, no less than within the gaming house… Star Atlas’ success bolstered Solana’s gaming metaverse aspect…Everybody in Solana’s management was speaking about Star Atlas being the way forward for gaming within the metaverse, bringing huge NFT utilization to our ecosystem.

Wall added that he thought “there have been loads of very bearish issues” when he noticed the restructuring announcement. He famous that whereas many different blockchain video games have efficiently raised funding, Star Atlas has failed to take action. He additionally believes the Web3 house is seeing a downward trajectory for the dotcom collapse of the metaverse.

Monetary troubles for ATMTA and Star Atlas surfaced in April when the corporate was discovered to have bought $1.6 million value of in-game foreign money ATLAS and POLIS governance tokens over a three-month interval. Firm-owned tokens had been bought for unknown causes.

Criggs, founder and editor-in-chief of Star Atlas information platform The Hologram, reported that members of the positive-minded Star Atlas neighborhood speculate that the token sale is an try by ATMTA to broaden its improvement runway later this 12 months, whereas others consider one thing “extra nefarious” is on the way in which.