GCash Partners Axie Infinity and Ronin to Enhance Web3 Gaming Accessby Fintech News Philippines February 7, 2024
GCash has entered into a strategic partnership with Axie Infinity and Ronin, aiming to facilitate access to blockchain-based gaming, also referred to as Web3 gaming, in the face of challenges brought about by recent cryptocurrency regulations.
This collaboration is intended to offer Filipino gamers a practical and regulated avenue for engaging with Web3 games, especially considering the difficulties encountered by users of the cryptocurrency exchange platform Binance.
The partnership combines the capabilities of GCash, utilised by over 80% of internet users in the Philippines for a variety of financial services, with Axie Infinity, a front-runner in the Web3 gaming space developed by Sky Mavis, and its Ronin sidechain network, which is tailored for efficient blockchain gaming transactions. The initiative aims to tackle financial barriers to cryptocurrency adoption by making the process of cashing out gaming earnings more straightforward.
Martha Sazon, President and CEO of GCash, asserts that the initiative is in line with the company’s objective to render blockchain technology more accessible for daily use, underlining the significance of merging web3 gaming with GCash’s financial technologies to improve user experience.
While the exact details of the integration and its launch schedule remain under wraps, the initiative signifies a concerted effort to bolster the blockchain gaming industry in the Philippines amidst a growing crypto regulatory framework.
By leveraging GCash’s broad user base with financial services designed for web3 gaming, the collaboration aims to provide a seamless experience enabling gamers to efficiently manage their earnings and participate in gaming activities.
In addition, the recent decision by Binance to list the Ronin token (RONIN) for spot trading marks a noteworthy development in the cryptocurrency and blockchain gaming arenas. This move is expected to offer easier access to a broader investor base, potentially fostering the expansion of platforms like Axie Infinity that utilise the Ronin network.
Featured image credit: Edited from Freepik