12 min.
Why crypto has made a comeback in the Philippines Marketplace Tech
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- Technologie
Crypto is once again big in the Philippines. It first took off during COVID-19 lockdowns in 2021 with a now-defunct video game called Axie Infinity, where players earned money — often more than minimum wage — through non-fungible tokens, or NFTs. Of course, the crypto winter soon followed with the implosion of FTX in 2022, but now crypto is back in a big way on the island nation. Marketplace’s Meghan McCarty Carino spoke with reporter Eli Tan, who recently visited and wrote about the scene for The New York Times.
Crypto is once again big in the Philippines. It first took off during COVID-19 lockdowns in 2021 with a now-defunct video game called Axie Infinity, where players earned money — often more than minimum wage — through non-fungible tokens, or NFTs. Of course, the crypto winter soon followed with the implosion of FTX in 2022, but now crypto is back in a big way on the island nation. Marketplace’s Meghan McCarty Carino spoke with reporter Eli Tan, who recently visited and wrote about the scene for The New York Times.
12 min.