The founders of The Sandbox, Arthur Madrid and Sébastien Borget, have resigned from everyday operations. Robby Yung of Animoca Brands has been appointed as the new CEO, while Borget will act as a global ambassador and Madrid will serve as non-executive chairman.
The company is implementing a significant reduction in workforce by laying off over 50% of its employees spread across global offices, particularly in Argentina, Uruguay, South Korea, Thailand, and Turkey, as it shifts its focus to broader Web3 applications.
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