PHILIPPINES: Wider adoption of Web3 in the Philippines will boost employment opportunities, livelihoods and investments. It will also help firms innovate more effectively, leading to an overall improvement for industries, industry leaders say.
Web3 is a new iteration of the World Wide Web and includes decentralisation, blockchain and token-based economic capabilities that have become popular among gamers.
Speaking at The Future is Web3 briefing held in October, Peter Ing, CEO and founder of BSPC, a data aggregator and tooling provider for Web3 Guilds said that because of the emergence of Web3 gaming, thousands of guilds have surfaced in the country. These guilds will be the next digitally native business of Web3, driving Web3 adoption.
BlockchainSpaceGuild Hub General Manager Jen Bilango added that the growing popularity of Web3 gaming has led to increased entrepreneurial opportunities in developing countries, which is evident in the rise of guilds in the Philippines.
“With measures to bolster the Web3 community and innovations within the industry, we will witness more opportunities that will impact not only organisations but also the lives of every Filipino,” Yield Guild Games (YGG) Co-Founder Gabby Dizon said.
Luis Buenaventura, YGG country manager, added that the growing Web3 gaming adoption has provided more career opportunities in gaming, content creation, and the arts.