logo

Cryptocurrencies gain increased popularity in the Philippines as more people earn NFTs playing video games.

cryptocurrencies

TL;DR Breakdown

• More people earning cryptocurrencies with Axie Infinity.
• Chief Growth Officer of Axie promises to create a computer game metaverse.

When the Covid-19 pandemic hit the Philippines, the citizens of Cabanatuan looked for a cost-effective way to distract themselves. These people north of Manila chose video games to earn money at home.

They have managed to make playing video games not only fun but a way to obtain non-expendable cryptocurrencies. The Axie Infinity game, which the SkyMavis company created, allows players to win NFTs with little effort. Axie Infinity is about how you can breed, trade, and fight with self-named “Axies” digital pets.

A documentary released on YouTube by Emfarsis called “Play To Earn” explains the video game. The documentary shows that a mother and three young entrepreneurs discovered Axie Infinity.

The game’s fame, which started last summer, rose when Coindesk wrote an article about the groundbreaking innovation. Axie Infinity has around 60,000 players, as indicated by Axie Jeffrey Zirlin, the head of growth for the video game.

Axie Infinity popularity by earning cryptocurrencies

Cryptocurrencies

Although online gambling has no limits, its popularity is centered in the Philippines because it was heavily affected by the COVID pandemic. Based on the opinions of a player in the documentary, he is not certain of what he would get from the game, but considers it very entertaining. Many older adults in Cabanatuan have joined this trend because it is easy, has basic rules, and provides opportunities to earn cryptocurrencies.

The video game uses the NFT cryptocurrency for every pet purchased online. You can sell this pet for cryptocurrency and then exchange it for your local currency. According to the opinions of another player, the game is like chess; being very strategic.

Axie Infinity inspiration for earnings in cryptocurrencies

Axie Infinity was inspired by the CryptoKitties video game, the first game to promote NFT technology in 2018, and Pokémon. Zirlin suggests that if you have the internet, you can play the game.

The game has also come under fire due to the volatility of the cryptocurrency. This occurs because users must synchronize and exchange their SLP, in-game currency, for Ethereum.

The ETH cryptocurrency was up 65% in April but plunged 7% last Thursday. Elon Musk’s appearance on SNL also caused declines in the crypto market; plummetting Dogecoin by 30%.

Zirlin also thinks that Axie Infinity has its economy; it is subject to change like any cryptocurrency on the market. But, this video game may have a better future, with GDP growth that promotes the economy on its platform.

The predictions for the game are that Zirlin could add more games alongside Axie to create a metaverse. This universe of fun will be focused on computer games more than mobile phones.

Many people in the Philippines are grateful for the game because it has helped them. Axie Infinity promotes NFTs and also makes them forget about the Covid-19 crisis.

Carisbel Guaramato

Carisbel Guaramato

An avid content creator for over 4 years, Carisbel spends her time on blogs and technology news. She honed her skills as a social communicator and now finds crypto and blockchain news events worldwide for transmission through Cryptopolitan's neutral and incisive way.

Related News

Hot Stories

Avalanche price analysis: AVAX follows up with strong comeback after $16.42 setback
Arizona Senator wants to make Bitcoin a legal tender
'Bitcoin Jesus' refuses to pay the $12m he owes Genesis
XYO Price Prediction 2023-2032: Is XYO a Good Investment?
Barnbridge Price Prediction 2023-2032: Will BOND Hit $100 Soon?

Follow Us

Industry News

'Bitcoin Jesus' refuses to pay the $12m he owes Genesis
Is Malawi gaining from Bitcoin mining?
USDC issuer blames SEC for derailing $9b plans to go public
Good news for crypto companies operating in France
Celsius considers launching a token to repay creditors

Add Your Heading Text Here