Speaking at the top global gathering of Axie Infinity fans, Zhou says the play-to-earn game’s huge success in the Philippines highlights the country’s Web3 advantages
BARCELONA, Sept. 13, 2022 /PRNewswire/ — Wei Zhou, CEO of Coins.ph, (“Coins” or the “Company”), the Philippines’ leading digital wallet provider and crypto exchange platform, appeared on stage last Friday (Sep. 9) at AxieCon in Barcelona to share insights into Axie Infinity’s massive success in the Philippines, which remains the game’s most vibrant market.
At the event, which was billed as “a gathering of the greatest thinkers, builders, and battlers in the Axie ecosystem”, Zhou reflected the huge enthusiasm for the play-to-earn Web3 game in the Philippines. He shared that a Manila watch party organized by Coins for the Axie Classic World Championships, an e-sports event held alongside AxieCon, had drawn over 1,000 RSVP’s necessitating a change to a larger venue.
Speaking in a panel session entitled “Coins.ph on Axie in the Philippines“, Zhou said: “Axie is really good proof of concept of how you can actually have creators in the metaverse. I think you’re going to see world-class content creators in the metaverse coming out of the Philippines. Axie’s unexpected levels of popularity in the Philippines, and the ability of Filipino fans to create large volumes of Axie-related content, both illustrate that the Southeast Asian country has a huge opportunity to be a global leader in Web3. The Philippines’ population of more than 100 million people and the status of English as an official language in the country are both key factors in the market’s Web3 leadership. The language of Web3 is going to be English, and that just puts the Philippines at a massive advantage compared to the rest of Asia.”
Zhou, who has followed Axie Infinity since participating in the game’s 2020 launchpad, said that he is committed in keeping with his mission of returning the platform to its crypto roots. “It has been really interesting trying to catch up in a lot of ways in terms of bringing more players onto Axie through our wallet,” Zhou shared.
Coins is working to ensure that Filipino Axie players can benefit from their gameplay in the real economy. “Once you have earnings, assets, and wealth in the digital world, how do you get that out of the digital world? We really want to make that easier for our users. I think what we want to do is actually make it really easy for non-coiners, non-NFTers and non-Web3 natives to actually come into the ecosystem. And I think the wallet is the entry point of that, especially for our traditional fiat wallet users.”
In February this year, Coins integrated Ronin, the Ethereum sidechain dedicated to Axie, into its platform, allowing players to quickly and easily deposit AXS and SLP, Axie’s in-game tokens into their Coins wallets.
Coins’ status as a regulated entity in the Philippines with all the necessary central bank licences helps it play that role, and the platform has systems in place to carry out KYC processes in the complex Philippines compliance environment, despite challenges including the country’s lack of a national ID card.
Coins also welcomes the planned introduction of tokenized land gameplay into the Axie ecosystem. Zhou said: “Owning land, even in digital form, gives people a certain association that owning ‘toys’ doesn’t, and I think that really drives the concept of Web3 as the ownership economy. That’s where I think the real opportunity is coming, and I’m really excited for Coins to be partnering with Axie and I look forward to more happy users.”
Launched in 2014, Coins.ph is the most established crypto brand in the Philippines and has more than 16 million users. Through the easy-to-use mobile app, users can buy and sell a variety of cryptocurrencies and access a wide range of financial services. Coins.ph is fully regulated by the Bangko Sentral ng Pilipinas and is the first crypto-based company in Asia to hold both Virtual Currency and Electronic Money Issuer licenses from the central bank. For further information, contact email@example.com.
For more information about Coins.ph, visit https://coins.ph and follow us on Facebook, Twitter, and Instagram.