With signs of a crisis, Tapps Games and other Brazilian game companies are making cuts

Tapps Games, one of the largest game developers in Brazil with a particular focus on mobile, has laid off about 10 jobs. This information was confirmed Game drops by various sources who requested anonymity. Tapps has more than 80 employees.

He is not the only one. In June, reporter Ralph Manzoni Jr. NeoFeed reports that Afterverse, the Movile gaming company that owns iFood, has laid off about 60 employees. According to the report, venture capital funds asked startups in the game and technology market to keep their money.

According to NeoFeed, Silicon Valley-based Sequoia Capital warned its portfolio startups in a 52-slide presentation covering financial markets and geopolitical conflicts such as the war in Ukraine.

This has implications for other tech companies such as Mercado Bitcoin, VTEX, Favo, Olist, Facily and QuintoAndar. It affects companies dealing with the metaverse, such as Afterverse itself and its game PK XD, and even the cryptocurrency segment.

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Tapps games. Photo: Publicity/Twitter

Grupo Tapps owns game developer Tapps Games as well as new startup accelerator Tapps Ventures. Afterverse was created in 2019 as a spin-off of PlayKids, sold to English company Sandobx.

According to Abraham’s studyTapps is one of the largest Brazilian gaming companies, along with Afterverse itself, Wild Life (a Brazilian unicorn), Aquiris, Fanatee, PUGA, Sioux Group, Kokku, Gazeus Games and Pipa Studios.

O Game drops Tapps Advice was contacted to find out the reason for the cut and the state of the company. At the time of publishing the text, we have not received a response. The space remains open for their manifestation.

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