Layoffs Hit Solana NFT Marketplace Magic Eden, Sheds 22 Employees


Magic Eden, the top marketplace for Solana NFTs, announced the layoff of 22 employees late Monday, citing company-wide restructuring as the wider crypto economy continues to grapple with a harsh winter.

Since the beginning of 2023, several prominent crypto companies, including Huobi, Coinbase,,, and Luno, have also announced layoffs.

Launched in September 2021, Magic Eden quickly rose to become one of the Solana blockchain’s most popular marketplaces for NFTs, according to DappRadar. In September 2022, Magic Eden expanded into the Ethereum ecosystem, rolling out support for Bored Ape Yacht Club, Pudgy Penguins, and Otherside.

“We are deeply grateful to these folks—each of them has contributed immensely to Magic Eden over…

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