Polygon (MATIC), an Ethereum scaling solution, is seeking to aggressively hire additional staff this year to profit off the crypto downturn.
According to Bloomberg, Polygon will expand its personnel by 40% in the upcoming months to take advantage of the talent pool after several crypto companies either cut staff or put a hiring freeze in place this year.
Five hundred full-time employees currently operate from remote locations for Polygon, which raised $450 million in February through the sale of private tokens.
According to the corporation, about 200 managers, engineers, and others will be recruited. Additionally, Polygon intends to hire more skilled Web 3 engineers, who they claim are expensive to hire and hard to find.
According to Bhumika Srivastava, director of human resources at Polygon,
“Overall tech talent is difficult to hire even if it is a Web2 organization. It is difficult to hire the quality talent you want, especially as Web3 skills is something that’s still getting built.”
According to Srivastava, Polygon previously stole 30 engineers from the OnePlanet non-fungible token (NFT) launchpad. The head of human resources at Polygon also claims that the company has hired people from major tech companies, including Amazon, Electronic Arts, and YouTube.
After major cryptocurrency exchange platforms, including Coinbase, Gemini, and Crypto.com, announced that they would cut their workforces, Polygon went on a hiring rampage.
At the time of writing, MATIC is trading at $0.90, up 1.7% from the previous day.