Web3 gaming studio Mythical Games has let go 10% of its staff, the company said Friday. Mythical did not respond immediately when asked how many people this represented, but Mythical's LinkedIn page says it has about 320 employees.

The firm cited the economic downturn, likely exacerbated by the harsh crypto winter, as the reason for the layoffs.

"[We] have had to reevaluate and restructure some areas in our business accordingly," a spokesperson from Mythical told CoinDesk. "Unfortunately, as a result, we had to make the painful decision to let some of the members of our team go."

On Wednesday, Senior Vice President Chris Ko, Chief Operating Officer Matt Nutt and co-founder Rudy Koch announced their departures from the firm, raising questions around the state of Mythical's internal affairs.

In September, Mythical released multiplayer party game Blankos Block Party on the Epic Games Store.