What You Need to Know About NFTs (Non-Fungible Tokens)

NFTs Non-fungible tokens

Have you heard about this community in Cabanatuan City, Nueva Ecija, where many citizens earn an income by playing an NFT game called Axie Infinity? NFT or non-fungible token is an emerging technology. It provides economic opportunities for people, especially in developing countries like the Philippines.

With the pandemic destroying many jobs, Axie Infinity saw droves of new users from the Philippines. The game has gained so much traction that scholarship programs are being offered to help out players. One of the scholarship providers is Yield Guild Games (YGG), co-founded by Filipino developer Gabby Dizon.

Axie Infinity is only one of the play-to-earn games. And NFT is more than just gaming. To help you understand, if not enrich your knowledge about NFTs, you can visit the following YouTube channels.  

BloomX – NFTs Made Simple

Watch this episode of BloomCast on the BloomX YouTube channel that explains everything you need to know about NFTArt and why NFTs even exist. BloomX is a Philippine-based crypto exchange platform, among the first cryptocurrency companies that the Bangko Sentral ng Pilipinas licensed.  

All About Non-Fungible Tokens From Art Fair Philippines

Luis Buenaventura, the co-founder of BloomX and the country manager of YGG, also discusses how to become a crypto artist on the Art Fair Philippines channel. There are a couple more talks about NFTs on the Art Fair Philippines YouTube that you should check out – a chat with three artists and their journey into making NFTs and what’s next for NFTs.

Near Protocol Philippines

Learn further about NFTs from Near Protocol Philippines’ YouTube, which has published NFT for Pinoys AMA and workshop sessions on the 25th week. In addition, the channel features NFT artists, the evolution of blockchain technology, crypto coins economics, and many more.

As COVID-19 paralyzed many industries, NFTs or non-fungible tokens) are thriving especially play-to-earn games. They are opening doors for thousands of Filipinos to earn a living. They have shown adaptability to emerging technology trends despite the myriad challenges in developing countries, such as slow connectivity.

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