[B-SIDE Podcast] Navigating NFT Gold Rush

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Non-fungible tokens (NFTs) have come under fire for their price volatility and vulnerability to fraud and scams in the form of both digital art and play-to-earn gaming assets.

This March, hackers stole nearly $ 600 million from the Ronin blockchain network that supports Axis Infinity, a game to earn from a game with 3 million daily active players, 35% of whom are Filipinos.

In light of the game’s large, Philippine-based population, Banco Central NG has warned the public against rushing to the Philippines with digital tokens.

“If you look at the place right now, it’s still very raw. No one has a full understanding [how play-to-earn] Really works, “said Range Carlo Chong, chief executive officer and co-founder of digital asset production factory BreederDAO.

In this B-side episode, Mr. Chong spoke to Business World Reporter Bronte H. about the opportunity to produce NFT assets in the Philippines amid growing risks. Talked to Laxmana.

“It’s really interesting because no one knows where the place will go or how it will develop in the next few years,” he said.

Recorded remotely in March 2022. Bronte H. Laxmana, Earl R. Lagundino and Sam L. Produced by Marcelo.

Related story: “Filipinos run NFT gold rush before predicted bust”

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