"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
Bitcoin (BTC) Surges to New ATH Amidst Declining Sell-Side Pressure
Bitcoin reaches a new all-time high of $109k after months of consolidation. Analysis reveals diminishing sell-side pressure and signals of potential market volatility, according to Glassnode.
Ethereum Initiates $2 Million Academic Grants for 2025
Ethereum Foundation launches the 2025 Academic Grants Round, offering $2 million to support innovative research in Ethereum-related fields.
Chartist Spots Bullish Pattern for this Altcoin Priced at $0.07 Following the TRUMP Memecoin Debut
John Deaton Outlines Four Key Objectives For White House Crypto Council