UpOnly | Research #14: Metaverse gains, Axie’s continued decline, and bullish hires dominate play-to-earn sector Rescinded job offers at Coinbase. Layoffs at Gemini. Talks of a prolonged crypto winter are dominating news headlines as startups and investors aggressively downsize exposure to the space. Amid the decline, the GameFi and Metaverse space has held up well, hinting at significant returns when market sentiment flips.