February 24, 2024
Forecast Labs announces layoffs of key employees following merger

Forecast Labs has laid off a large portion of its editorial team as part of a significant change in business strategy. The move comes directly from its merger with CryptoSlam, a well-known data provider in the cryptocurrency sector. Earlier this year, Forkast.News and CryptoSlam joined forces to establish Forkast Labs, which aims to build a comprehensive Web3-centric data intelligence and media platform due to this strategic pivot, Forkast. News, once a prominent name in crypto journalism, has stopped regular publishing of its articles and videos.

Forkast.News, known for its in-depth coverage of the crypto space, published its last content on November 22. The site updated its branding to reflect the new focus, saying “Forkast. News is now Forecast Labs.” This change marks a significant shift in the company’s direction, with an emphasis on data-driven products over traditional news media.

According to internal communications, most of the editorial staff has been integrated into Forecast Labs. The memo highlights a strategic shift towards data-centric services, indicating that the newly formed team will focus on launching innovative data products in the crypto and blockchain industry.

Forecast Labs is ready to explore new horizons in Web3, NFTs, and the Metaverse. In March, the company introduced a series of indices, including the Forecast 500 NFT Index, and has since partnered with Sandbox to dive deeper into metaverse indexing. This shift indicates a growing interest in data intelligence within the crypto sector, indicating a potential new direction for journalism and analysis in this rapidly growing sector.

Read also, Mark Cuban invests in NFT platform CryptoSlam

Source: www.cryptotimes.io

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