Metaverse

Based on our coverage, there are several entry points. Yield Guild Games (YGG) Pilipinas partnered with Nas Academy to launch 'Web3 Metaversity,' an educational program offering lessons on Web3 topics and income-earning opportunities in the Metaverse. Registration for this program opened in August 2022. Additionally, platforms like MetaverseGo, launched by a former ByteDance executive, offer a way for users to track digital assets, invest in NFTs, and access play-to-earn games, requiring only a mobile number to register for early access.

Major tech firms and hardware manufacturers are actively developing supporting infrastructure. HTC unveiled the Desire 22 Pro smartphone, which is specifically compatible with its Viverse platform and includes direct access to the Viverse Wallet for managing NFTs and crypto. Meta (formerly Facebook) rebranded Facebook Pay to Meta Pay, with CEO Mark Zuckerberg introducing plans for a universal digital wallet for the Metaverse to manage digital goods. Meta also opened its first physical 'Meta Store' in the US to demo hardware like the Meta Quest 2 VR headset.

Local engagement is growing through partnerships and new ventures. UnionBank of the Philippines became the first Philippine bank to enter the Metaverse through a partnership with Filipino blockchain startup Ark of Dreams (AoD), aiming to provide financial services within its virtual space. Furthermore, the blockchain startup MetaverseGo was launched in the Philippines by a former ByteDance executive, providing a platform for NFTs and play-to-earn games. These moves follow the trend of localizing Metaverse and Web3 access for Filipino users and businesses.