Forkast fires most of its editing team as it merges with CryptoSlam
On November 30th, according to people familiar with the situation, the crypto news site ceased editorial activities.
As part of its merger with data provider CryptoSlam, Forkast Labs has reportedly fired most of its editorial team, according to various individuals close to the subject.
As of January, a “Web3-focused data intelligence and media platform” known as Forkast Labs has been formed via the merger of Forkast.News and CryptoSlam. But it seems that the crypto news site ceased releasing articles and videos last month; the last one was on November 22. Forkast Labs is now known as Forkast.News, according to the website.
The Block has learned from many sources that the news site chose to halt editorial activities at the tail end of November after a round of layoffs this year.
After Forkast and CryptoSlam merged earlier this year, “most editorial operations have been added to Forkast Labs,” the company wrote in an internal letter that was sent to all staff members last month. “Moving ahead, the data side will get more attention, and the team as a whole will work on releasing new data products.”
In January 2022, Animoca Brands led a round in which the non-fungible token data tracker CryptoSlam raised $9 million. Another firm in the Animoca portfolio is Forkast.News. An article from January by Bloomberg said that Yat Siu, who is both the founder and executive chairman of Animoca, oversaw the transaction.
The news website Forkast.News launched in 2018 and, by 2021, had received $1.7 million in a startup round. The Forkast 500 NFT Index was one of many indexes introduced in March by Forkast Labs. In June, the business formed an alliance with The Sandbox with the goal of “indexing the metaverse.”