The Utah County tech firm partnering with Brigham Young University on an NFT marketplace has cut its workforce by about half and closed its office, according to CEO Jon Cheney.
| Nov. 10, 2022, 1:00 p.m.has cut its workforce by about half and closed its office, according to CEO Jon Cheney.
“We just let underperformers go, was all,” he said, adding that tech companies often “optimize” their workforces. Ocavu shifted from 43 or 42 employees, he said, down to 34 and now down to 22, with layoffs in June, September and October. NFTs are essentially digital trading cards, and BYU players can choose to participate under NIL deals — which allow student athletes to earn money for uses of their name, image and likeness.
Casey Stauffer, Brigham Young University's associate athletic director for corporate sponsorships, at left, and Ocavu CEO Jon Cheney announced BYU Athletics NFTs on Aug. 16, 2022.
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