Business leaders in the Philippines anticipate that broader adoption of Web3 will lead to employment, livelihood, local business innovations, and foreign investment.

“With the emergence of Web3 Gaming, thousands of guilds surfaced in the Philippines.” said Peter Ing, CEO and Founder of BSPC, the leading data aggregator and tooling provider for Web3 Guilds.”Guilds are what we believe to be the next digitally native businesses of Web3 and the communities that will drive Web3 adoption.”

Luis Buenaventura, country manager, YGG Pilipinas, credited the growth in local Web3 gaming adoption to guilds like YGG, RDG, and MVP, providing financial stability for Filipinos and career opportunities.

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Gamer and Independent council member of Axie Een Mercado stressed that with the rise of Web3, there are new and creative income opportunities that can lean onto various interests such as gaming, content creation, and the arts.

Kimi Rocha-Delgado, gallery director, Galeria Paloma emphasized that promoting NFTs and access to leverage technology help artists uncover their potential and allow them to showcase their talent on the world stage. She believe that Web3 provides a more transparent art world where connections can be made without walls. This, consequently, fosters the growth of the Philippine art landscape.

For those interested to explore Web3, Ash Mandhyan, CEO of MetaverseGo, which tags itself as the premier gateway into the metaverse, shared that the community has various initiatives and services to help Filipinos navigate the metaverse. These include capacity-building, educational efforts, networking, and support in connecting them to proper channels and Web3 entities depending on what they are looking for.

Expressing support for the rising industry, Emmy Lou Versoza-Delfin, director of the DICT’s ICT Industry Development Bureau said that the department will continue to develop programs that seek to explore and maximize the potential of new and emerging technologies such as the Stimulating the expansion of Emerging Technology in the Philippines (SET PH) application, Tech Trends project, Connect, Harness, Innovate and Protect, and their upcoming Global Blockchain Summit on Oct. 26-27.

To encourage innovation and position the community to massive opportunities, BSPC and YGG organized the Philippine Web3 Festival scheduled on Nov. 14-18 in Bonifacio Global City (BGC).