WIDER adoption of Web3 in the Philippines will boost employment opportunities, livelihood, firms’ innovation, and investments, industry leaders said last week.

“With the emergence of Web3 Gaming, thousands of guilds surfaced in the Philippines. Guilds are what we believe to be the next digitally native businesses of Web3 and the communities that will drive Web3 adoption. BlockchainSpace (BSPC) itself focuses on building guild infrastructure and tooling for Asset Management, Wallet Technology, Identity and Reputation Systems to legitimize and professionalize these guilds,” said Peter Ing, CEO and founder of BSPC, a data aggregator and tooling provider for Web3 Guilds, said at the “The Future is Web3” briefing held in Makati last week.

The briefing was held ahead of the Philippine Web3 Festival happening on Nov. 14-18.

BSPC Guild Hub General Manager Jen Bilango said the growing popularity of Web3 gaming has led to increased entrepreneurial opportunities in developing countries, which is evident in the rise of guilds in the Philippines.

Yield Guild Games (YGG) Co-Founder Gabby Dizon said the Philippines can be a significant contributor in Web3 innovation.

“With measures to bolster the Web3 community and innovations within the industry, we will witness more opportunities that will impact not only organizations but also the lives of every Filipino,” Mr. Dizon said.

The event included speakers from the Department of Information and Communications (DICT), Globe Telecom, Inc., MetaverseGo, UBX, Sky Mavis, Binance, Galeria Paloma, PH Startup Week, Real Deal Guild, and Metaverse Ventures Platforms, Inc.

Emmy Lou V. Delfin, director of DICT’ ICT Industry Development Bureau, said the agency continues to develop programs to explore and maximize the potential of new and emerging technologies.

Luis Buenaventura, YGG Pilipinas country manager, said growing Web3 gaming adoption has provided more career opportunities in gaming, content creation, and the arts.

Besides gaming, companies are also venturing into Web3 to help micro, small and medium enterprises traverse the metaverse.

Ash Mandhyan, CEO of MetaverseGo, said the community has various initiatives and services to help Filipinos navigate the metaverse, such as capacity-building, educational efforts, networking, and support in connecting them to proper channels and Web3 entities.

Binance Spokesperson for the Philippines Kenneth Stern said increase Web3 adoption in the country will make the Philippines an attractive investment destination for foreign companies will help boost the country’ economy.