Author : Mark
Date : Dec 27,2022
Online gaming is "likely to continue rising in the Philippines in the future years due to the broad availability of affordable mobile devices
Hold on tight; rumor has it that NFT usage will skyrocket in the Philippines during the next several years. Former CFO of Binance and current CEO of Coins.ph, Wei Zhou, has issued a crucial forecast for the sector. He predicts that the Philippines is poised for a significant increase in mainstream engagement and NFT projects. Additionally, he thinks that the Philippines' NFT expansion and technology development will usher in solutions that are especially empowering for the underbanked or underprivileged.
Online gaming is "likely to continue rising in the Philippines in the future years due to the broad availability of affordable mobile devices and improved internet infrastructure," according to Manila Bulletin. Fortunately, the adoption of NFT projects is not solely dependent on gaming NFTs.
What factors will influence the expansion of NFT in the Philippines?
The growth of NFT in the Philippines is still influenced by a variety of factors, including:
Such occasions like the Philippine Fintech Festival, where Zhou underlined the value of crypto education
Future partnerships with educational institutions are being developed with a push on crypto education.
Prior to this, in February, the Philippines was rated first in a list of countries that had adopted NFT. The nation's high ranking was influenced by its widespread involvement in the online game Axie Infinity. Despite the game's sluggish adoption at the end of the year, NFT initiatives and participation are growing in the Philippines.
In the end, the Philippines is where NFT adoption is most advanced and is expected to spread widely around the world.