I was part of a group of layoffs for a company that tried to grow too fast during the NFT boom. Luckily, it was just a side hustle for me, so it didn't impact me too much, but I have seen first hand what you are talking about here. They have now shifted their focus mostly to development and working on getting a turn key product out.
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Glad it didn't impact you too much, though it is never a nice feeling to lose any job I guess. In time, most of these companies will pivot, or cease to exist.