Snap Incorporation will now be taking over the task of restructuring in an attempt to certify the company’s success in a competitive space, where reportedly Instagram and Tik Tok are currently leading.
As part of its restructuring process, the company has let go of it entire Web3.0 team. Jake Sheinman, head, Snap’s Web3.0 team, made announcement about his departure through a series of Twitter posts. “As a result of the company restructure, decisions were made to sunset our Web3.0 team,” Sheinman stated through a tweet.
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