In its report “Digital 2022: Global Overview Report,” file-sharing app SHAREit saw that around 20% of internet users aged 16-64 years old in the Philippines own some form of cryptocurrency, which it said is the highest across the globe.
This finding was highlighted by Lisa Dominguez, director for Global Partnerships of SHAREit, at the Crypto Dubai Expo held recently. She noted that the Philippines along with Egypt, Indonesia, Malaysia, Saudi Arabia, South Africa, and UAE are among the top countries with SHAREit users who are also active users of cryptocurrency wallets and exchanges.
Dominguez also shared the different ways crypto companies can use SHAREit as a growth channel to drive user acquisition and build community. This can be done across user acquisition, awareness, and remarketing solutions.
Emerging technologies such as blockchain offered an alternative way of earning income amid the lockdowns, particularly through gaming.
With the play-to-earn (P2E) economy came the creation of non-fungible tokens (NFTs), which grant users personal ownership of their digital assets and can then be traded for cryptocurrency or cash with other players.
An example is Axie Infinity which has gained popularity in the Philippines with 2.5 million daily active users. The game is built on the Ethereum blockchain where anyone can earn token rewards through skilled gameplay and contributions to the Pokemon-inspired ecosystem.
Through audience targeting and app recommendation solutions, SHAREit drives existing users of crypto apps to become new players of P2E games. For a P2E game like Drakons.IO or Axie Infinity, users should be connected to wallets like Trust, Enjin, or MetaMask for them to become new players of these Ethereum-powered strategy games. Crypto apps then turn to SHAREit for their ability to connect them to a very targeted audience subset of mobile users worldwide who are also crypto enthusiasts.
In the Philippines, SHAREit has also recently started working with the Philippine Digital Asset Exchange (PDAX), a virtual asset provider licensed by Bangko Sentral ng Pilipinas. The partnership aims to drive more users to the platform and give more Filipinos access to crypto trading.
“SHAREit’s solutions connect crypto apps to millions of new users each month, many of whom convert to high LTV users for these apps,” Dominguez said. “We also see that a significant number of our users sit in the top markets for crypto adoption worldwide.”