Hiring goes hand in hand with expansion and means only one thing. Demand outstrips supply, and companies need more labor to support rapid scaling.
Alexandre Dreyfus, Chiliz's CEO, has recently announced that the company has already increased the size of its workforce by 70% this year and plans to continue this expansionary curve. As well as new hires, Chiliz has established a global presence opening new offices in London, Milan, Sao Paulo, Miami, and Switzerland.
Chiliz Undeterred by the Bear
Demand for the native token CHZ has been the key driver of Chiliz's recent expansion. CHZ allows users to purchase fan tokens on the Socios platform and make decisions concerning their favorite club. This project has created a bridge between supporters and teams. Chiliz has already established deals with some of the world's leading clubs, such as Barcelona and Paris Saint-Germain.
The critical factor allowing Chiliz to survive and thrive positively throughout the bear market has been its utility application. Chiliz has increased meaningful interaction within the sports and entertainment industry by leveraging blockchain technology.
Uniglo.io Scaling Through the Bear Market
Chiliz is not the only company undergoing expansion; Uniglo has had to hire a cluster of new employees to deal with the influx of demand. The crypto community has reacted fervently to this social currency designed to store value.
Few projects garnish such excitement, and the apparent reason for the sentiment is that the launch grows closer. But closer inspection reveals that Uniglo's adoption of tokenized assets has driven a large segment of this engagement.
Uniglo is one of the first DeFi protocols to store high-end physical items in NFT format in its vault. NFTs representing fine art, real estate, and luxury timepieces will all be housed in the Uniglo vault. As a result, investors are not only obtaining a currency that will store value over extended periods but also gaining access to markets typically inaccessible due to their high capital barriers to entry.
With its presale closing and the launch coming in November, it appears it's all hands on deck, and the onboarding process is ramping up. This investment in new staff to help scale to demand is an excellent sign for early investors.
Closing Thoughts
A hiring drive remains one of the most positive metrics for investors. Chiliz and Uniglo are bucking the general trend as layoffs and cutbacks become the norm. Even prominent players like Gemini and Coinbase have had to let go of significant numbers of staff to remain operational. That is without mentioning the number of centralized exchanges which have gone bankrupt this cycle.
The protocols that defy the generic bearish narrative seem to have an explicit focus on utility, and this larger trend of value creation over value capture bodes well for the digital asset space.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.