| Founded | 2021 |
|---|---|
| Closed | 2022 |
| Country | USA |
| Sector | Web3 |
| Collapse type | Mass Layoff Spiral |
| Founder | Stephen Hess |
Metaplex Studios
"Raised $46M, angered the whole Solana dev community, then laid off 45% in 10 weeks."
Cascading layoffs that accelerated the decline
Key Events Timeline
Metaplex Studios, the company behind Solana's dominant NFT standard and Candy Machine minting infrastructure, raised $46M in August 2022 from a16z and Multicoin Capital.
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