Blockchain company Chiliz, creator of fan token platform Socios.com, has continued to expand its workforce despite the ongoing bear market, reflecting a growing trend in the fan token sector.
The overall cryptocurrency market has seen a massive selloff in 2022, with the total market capitalization plummeting 60% since the beginning of the year. Some major crypto companies, including Coinbase (NASDAQ:COIN) and Gemini, had to cut their workforce by 10%–20% to maintain operations and continue serving their clients.