"The New York Times": About 30% of the world's blockchain game "financers" are from the Philippines
As the price of Bitcoin hits a new all-time high, the virtual currency market in the Philippines has become hot again after two years. "Gold farmers" who are eager to get rich have put aside their main jobs and are trying to make money by playing games. In some network games that involve farming and other activities, players can earn tokens by completing simple tasks, which can be exchanged for virtual currency and ultimately converted into common currency. This has given rise to a new profession known as "professional gold farming". The report states that after exchanging tokens for Philippine pesos, the income of ordinary "gold farmers" can usually reach twice the country's minimum wage.
According to related statistics, about 30% of global "gold farmers" come from the Philippines. In addition, more than 40% of Filipinos do not have bank accounts. The combination of the developed virtual currency industry and the weak financial industry has led to frequent chaos, and in some areas of the country, virtual currency can even replace the peso.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Pepe’s market cap briefly tops $10 billion on back of 77% price surge
The price of the frog-faced memecoin surged 77% in the past 24 hours to trade at $0.000024.Major exchanges, including Coinbase, Robinhood and Upbit, have recently listed Pepe trading pairs.
ETH killers are still no closer to doing the deed
Solana is the crowd favorite to potentially flip Ethereum somewhere down the line, and it tends to feel realistic at times
Bitcoin at $100k very possible before EOY, analysts say
The market is due for a breather, but analysts expect prices to continue moving up in the coming weeks
FBI raids Polymarket founder's home