Web3 Adoption Seen to Boost Jobs, Investments in PH – Local Tech Executives

Editing by Nathaniel Cajuday

Local technology leaders affirmed that the wide adoption of Web3 in the country will further boost and improve the employment rate, livelihood, local business innovations, and foreign investments in the Philippines during the “The Future is Web3” press conference held in The Astbury, Makati last week. 

BitPinas is media partner to PH Web3 Festival. Get your exclusive discount code of 20% Off if you use the code "BITPINAS" on checkout here.

Chief Executive Officer (CEO) and founder of data aggregator and tooling provider for guilds, BlockchainSpace (BSPC), Peter Ing expressed his optimism towards the current ongoing web3 adoption in the Philippines as well as the contemporary situation of our local guilds.

“With the emergence of Web3 Gaming, thousands of guilds surfaced in the Philippines. Guilds are what we believe to be the next digitally native businesses of Web3 and the communities that will drive Web3 adoption. BlockchainSpace (BSPC) itself focuses on building guild infrastructure and tooling for Asset Management, Wallet Technology, Identity and Reputation Systems to legitimize and professionalize these guilds,” he stated.

Moreover, BSPC Guild Hub General Manager Jen Bilango also noted the growing popularity of Web3 gaming, which has led to increased entrepreneurial opportunities in developing countries. She cited that the rise of guilds in the Philippines is solid evidence.

“With measures to bolster the Web3 community and innovations within the industry, we will witness more opportunities that will impact not only organizations but also the lives of every Filipino,” gaming guild Yield Guild Games (YGG) Co-Founder Gabby Dizon stated, noting that the Philippines can be a significant contributor to Web3 innovation.

Luis Buenaventura, YGG Pilipinas country manager, also added that the growing Web3 gaming adoption has provided more career opportunities in gaming, content creation, and the arts.

Other industry leaders from the Department of Information and Communications (DICT), Globe, MetaverseGo, UBX, Sky Mavis, Binance, Galeria Paloma, PH Startup Week, Real Deal Guild (RDG), and Metaverse Ventures Platforms, Inc. (MVP) agreed on the priorly mentioned sentiments and further discussed in their panel the impression Web3 has made on the Filipino community and the prospect of revolutionizing Philippine businesses on Web3.

Accordingly, DICT’s ICT Industry Development Bureau Director, Emmy Lou V. Delfin, said the agency continues to develop programs to explore and maximize the potential of new and emerging technologies.

Being the birthplace of Web3 gaming, Sky Mavis Philippines Lead Nix Eniego stressed that the Philippines is a potential major player in Web3 gaming and innovation. Sky Mavis is the firm behind the play-to-earn game Axie Infinity that kickstarted the popularity of gaming guilds in the country. Axie Infinity helped Filipinos earn during the COVID-19 outbreak. (Read more on: This Documentary Perfectly Captures the Play-to-Earn Phenomenon in the Philippines) 

In addition, they also mentioned that local companies are also venturing into Web3 to help micro, small, and medium enterprises traverse the metaverse.

Kenneth Stern, Binance Spokesperson for the Philippines, said increasing Web3 adoption in the country will make the Philippines an attractive investment destination for foreign companies and will help boost the country’ economy.

In the recent visit of Binance CEO Changpeng “CZ” Zhao to Bataan, he hinted that the exchange may team up with the local government unit of the province to spearhead the blockchain initiatives within the locality. Stern also promised that Binance will help local Philippine universities offer courses and professional certificates in blockchain, crypto. and web3. (Read more: Bataan Governor Explores Possible Partnership With Binance)

The briefing was held ahead of the upcoming Philippine Web3 Festival happening on Nov. 14-18, 2022 in Bonifacio Global City, Taguig City. The event is organized by BlockchainSpace and Yield Guild Games. Local and international web3 personalities will attend and speak at the 4-day conference. (Read more: Speakers o the PH WEB3 Festival)

In regards to the event’s speakers, Bilango stated in an interview that PH Web3 Fest is set to bring prominent web3 names, personalities, and entities, into the country. (Read more: Interview: Pillars of Web3 Arriving for Philippine Web3 Festival)

This article is published on BitPinas: Web3 Adoption Seen to Boost Jobs, Investments in PH – Local Tech Executives

Disclaimer: BitPinas articles and its external content are not financial advice. The team serves to deliver independent, unbiased news to provide information for Philippine-crypto and beyond.